What are the most recent trends in tax fraud, and how can I use them to my advantage?
What are the most recent trends in tax fraud, and how can I use them to my advantage?
user
Recent trends in tax fraud show a move away from traditional financial identity theft and towards tax-related identity theft. This form of fraud generally utilizes a scheme to file a false tax return that has the same Social Security Number (SSN). Common methods include obtaining SSNs through data breaches, filing false returns with paper copies, or through software filings designed to pass electronic identity authentication checks. To protect yourself from these tactics, keep an eye out for potential data breaches and make sure to check your returns for errors.
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What are the most recent trends in tax fraud, and how can I use them to my advantage?
user
Recent trends in tax fraud have shifted away from personal identity theft and have moved toward businesses, such as payroll and excise tax crimes, according to the Internal Revenue Service (IRS). In order to protect yourself from being a victim of these schemes, be sure to review your credit reports annually, enroll in credits monitoring services (if available), verify that your contacts for employment or volunteer organizations are securely stored and destroyed when no longer needed, set up access controls on data systems and periodically review them for anomalies, never respond to emails threatening you with jail time if you do not pay money immediately, report suspicious contacts through the IRS “Tip” form or by calling 800-366-4484. Additionally you may wish to consult a tax professional who is knowledgeable about the latest scams in order to ensure that your finances stay protected.
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