How To Identify Tax Identity Theft
Tax filing season is upon us. Soon you will be filing your paperwork and perhaps receiving a nice check — unless thieves file a return in your name first and falsely claim your refund.
Unfortunately, if a thief has your Social Security number and other relevant information, tax identity theft is very hard to prevent. Greg McBride, Chief Financial Analyst for Bankrate.com, notes that "somebody could have your Social Security number and they could have been sitting on it for a while... you would have no idea until they go and file a bogus tax return under your Social Security number. You only find out at the point where your legitimate return gets rejected."
While recent IRS efforts have resulted in a 57% drop in confirmed fraudulent identity theft tax returns from 2015 to 2017 and a 65% ...
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