When most people think of “identity theft,” the first image that comes to mind is an unscrupulous data thief using stolen information to apply for loans and credit cards in someone else’s name. However, tax identity theft can be just as serious, particularly if a criminal uses your Social Security Number to commit fraudulent tax return preparation. While there’s no way to fully protect all of your vital information, there are some steps you can take to minimize the risk.

How to Protect Yourself From Tax Identity Theft

1. Begin Tax Return Preparation as Soon as Possible

Unfortunately, many people don’t realize that a thief has stolen their tax refund until their own returns are rejected. The IRS won’t accept duplicate filings, so getting your tax return preparation done as soon as possible will keep a criminal from getting your refund.

2. Protect Your Electronic Devices

There may not be much you can do about hackers stealing your information from private companies or government agencies, but you can safeguard your own devices. Keep the antivirus and firewall software updated, and consider using a password storage program for maximum security.

3. Keep Any Tax Documents Safe

A physical copy of your Social Security card can be extremely valuable to a thief, so only carry it with you when you need it. W-2s, 1099s, and other tax documents can also give criminals all the information they need, so retrieve them from the mail as soon as they arrive.

With over 15 years of experience, Joe Heard, CPA offers fast, accurate tax return preparation and money-saving strategies to clients throughout Checotah, OK. Their seasoned staff constantly updates their knowledge of the tax code so you can always expect guidance informed by the latest changes to the law. Visit their website for more on their services or call (918) 473-1492 to schedule an appointment.