Despite a relentless effort to prevent identity theft this tax season, the IRS has been unable to control identity theft and tax fraud.
According to the IRS, there has been a 400% increase in email phishing and malware, targeting both the tax payers and the tax preparers.
A Red Flag for You
Your first indication that you have been ‘phished’ or ‘victimized’ may come when your e-filed tax return is rejected.
Once that has happened, you are definitely exposed to all sorts of identity theft issues. The thief has access to not only your Social Security Number but has your name, address and more!
Identity Theft Insurance
Identity theft insurance has recently become very popular among consumers and taxpayers looking for some security.
This, generally, addresses all issues faced by an individual in case of identity theft and usually the coverage extends to include the whole of your household.
Depending on the insurance, you may get reimbursements of up to $15,000.
Like any other financial product, make sure you understand what you are purchasing before you sign up.
Tips for Staying Safe
Remember, an ounce of prevention is better than a pound of cure, it is always better to stay ahead of the game and protect you.
- Always use a spam filtering solution and never open links from an unknown source.
- Be aware of when you typically receive bank account and credit card statements, utility bills and other monthly bills. Keeping track helps you in identifying if anything is missing.
Tax Help MD
Are you having cold feet, just thinking about being a victim of identity theft? Rest assured. Call us now on 888-632-4506 and connect with our tax experts at Tax Help MD for free advice and consultation.