visimoney
TLDR: Each year, identity thieves attempt to steal billions in federal withholdings by stealing individual’s identities. The IRS is cracking down on this problem, but it is still important to be vigilant during tax season to protect yourself from identity theft. Some key points from this article include:
- Thieves often file fraudulent tax returns early in the tax season, allowing them to steal some of your withholdings before you have a chance to file your own return.
- To prevent thieves from beating you to your refund, file your tax return as soon as possible.
- Consider obtaining an Identity Protection PIN from the IRS, which helps prevent identity thieves from filing fraudulent tax returns in your name.
- Regularly check your credit reports for any suspicious activity.
- Be cautious with your personal information, and never give out your Social Security Number or other sensitive information to someone who calls you.
- If you receive notice from the IRS that something is wrong with your tax return, respond immediately and file an Identity Theft Affidavit. Contact the credit bureaus and file a police report.
- If the IRS pays a refund to someone stealing your identity, they are responsible for the loss, not you.
