How Your Tax Information Can Be Used By ID Thieves
How your tax information can be used by ID thieves
Identity theft is a very serious offense that could affect just about anybody if they are unlucky enough to be targeted by criminals. Fraudsters can use all sort of different ways to get their hands on your personal information, which if it involves getting hold of your name, your SSN, and any other identifying information that can result in tax fraud and other crimes that are being committed using your ID.
Adding insult to the injury, if criminals manage to get their hands on personal information that are related to your tax affairs then it could also mean that you could would end up having your refund taken or a much-needed stimulus payment being stolen by the fraudster. On top of the financial hardship this can also cause, the matter of identity theft can also be a minefield to sort out after it has happened.
While signing up for an identity theft protection package is very useful, It is also a very good idea to make sure that you make regular checks on your financial information. On top of that, you will want to make sure that you look after things like your SSN more carefully, as well as being more diligent about keeping other personal information a more closely guarded secret.
What happens?
If you are unfortunate to have your tax information stolen then it may be that you do not realise it right away. In some cases if might take an annual event, such as e-filing your annual tax return to the IRS in order to find out what has been going on. In some cases you might try and file your tex return and then get a notification from the IRS that one has already been filed using your name.
However, an identity thief might also use your SSN to get a job, which can cause you more issues. If you start to find strange things happening to information that are related to your personal tax information then it may well be time to get in touch with the IRS in order to let them know what is happening.
Equally, you might find out that the IRS contacts you first, especially if it has evidence of a tax return already being filed using your Social Security number.
What next?
If you do get that letter from the IRS, showing that someone has been using your SSN to get your tax refund or that there are other problems that are linked with your account, be sure to act on what the letter tells you to do. There will be a number for the IRS that is included in the letter, which you will need to call. Make sure you have the letter, along with a copy of your tax return from the past year, which will help prove your identity when you get through to them.
