How to protect your personal information during tax season?
Get tips on how to protect your personal information during tax season to prevent identity theft and financial fraud.
Protecting your personal information during tax season is crucial to prevent identity theft and financial fraud. Here are some steps you can take to safeguard your personal information:
Secure Your Tax Documents:
- Store physical tax documents, such as W-2s, 1099s, and receipts, in a secure and locked location, preferably a locked filing cabinet or safe.
File Taxes Electronically:
- E-filing your tax return is more secure than paper filing. The IRS provides secure methods for electronic filing.
Use a Secure Internet Connection:
- When filing taxes online, make sure you are using a secure and private internet connection, preferably a trusted home network.
Beware of Phishing Scams:
- Be cautious of emails, phone calls, or text messages that claim to be from the IRS or tax authorities. The IRS does not initiate contact through email, text messages, or social media.
- Do not click on links or download attachments in unsolicited emails.
Use Strong Passwords:
- Create strong, unique passwords for your tax preparation software or online tax filing accounts.
- Enable two-factor authentication (2FA) if the option is available for your tax-related accounts.
Keep Your Computer Secure:
- Ensure your computer has up-to-date antivirus and anti-malware software installed.
- Regularly update your operating system and software to patch security vulnerabilities.
Shred Unneeded Documents:
- Shred or securely dispose of any tax-related documents you no longer need, especially those with sensitive information.
Protect Your Social Security Number (SSN):
- Avoid carrying your SSN card in your wallet or purse.
- Be cautious about sharing your SSN, and only provide it when necessary.
Use Secure Wi-Fi Networks:
- When transmitting sensitive tax information, such as when e-filing, use a secure Wi-Fi network. Avoid public Wi-Fi for such tasks.
Monitor Your Credit:
- Regularly check your credit reports from the three major credit bureaus (Equifax, Experian, and TransUnion) for any suspicious activity.
- Consider using a credit monitoring service for ongoing protection.
Keep Tax Software and Systems Updated:
- If you're using tax preparation software, make sure it's up to date. These updates often include security patches.
Verify the Credibility of Tax Professionals:
- If you hire a tax professional, ensure they are reputable and licensed.
- Be cautious about sharing sensitive information with anyone you hire to prepare your taxes.
File Early:
- Filing your tax return as early as possible reduces the window of opportunity for identity thieves to file a fraudulent return in your name.
Be Cautious with Tax-Related Emails and Websites:
- Double-check the legitimacy of emails or websites related to tax filing or refunds. Scammers may create fake sites to steal your information.
Secure Your Mailbox:
- Retrieve mail promptly, especially during tax season, to prevent thieves from stealing tax-related documents from your mailbox.
Keep Records:
- Maintain copies of your filed tax returns and supporting documents for several years in case you need to refer to them or if you are audited.
By taking these precautions and remaining vigilant, you can significantly reduce the risk of your personal information being compromised during tax season. If you suspect that your personal information has been compromised or that you've fallen victim to a tax-related scam, contact the IRS and relevant law enforcement agencies immediately.
Tax Season Security: Safeguarding Your Personal Information.
Tax season is a prime time for cybercriminals to target taxpayers. They may use phishing emails, fake tax websites, and other scams to steal personal information, such as Social Security numbers, bank account numbers, and credit card numbers.
Here are some tips on how to safeguard your personal information during tax season:
- Only use trusted tax preparation software or a tax professional. There are many different tax preparation software programs and tax professionals available. Do your research to choose a reputable one.
- Beware of phishing emails and fake tax websites. Phishing emails and fake tax websites are designed to look like legitimate emails and websites from the IRS or other tax authorities. However, they are actually scams that are trying to steal your personal information. If you receive an email or visit a website that asks for your personal information, be very careful. If you are unsure whether the email or website is legitimate, do not enter your information.
- Protect your computer and mobile devices. Make sure your computer and mobile devices have up-to-date security software installed. This will help protect you from malware and other threats.
- Use strong passwords and two-factor authentication (2FA). Use strong, unique passwords for all of your online accounts, including your tax preparation software account and IRS account. Enable 2FA whenever possible. 2FA adds an extra layer of security by requiring you to enter a code from your phone in addition to your password when logging in.
- File your taxes electronically. E-filing is the most secure way to file your taxes. It helps to reduce the risk of identity theft and other types of fraud.
Here are some additional tips to safeguard your personal information during tax season:
- Be careful about what information you share online and with whom. Avoid sharing your Social Security number, bank account number, and other personal information online or with people you do not know and trust.
- Shred your tax documents after you file your taxes. Do not throw away your tax documents without shredding them first. This will help to prevent identity theft if your documents are lost or stolen.
- Monitor your credit report for any unauthorized activity. Review your credit report regularly for any unauthorized activity. You can get a free copy of your credit report from each of the three major credit bureaus once a year at annualcreditreport.com.
By following these tips, you can help to safeguard your personal information during tax season and reduce your risk of becoming a victim of fraud.