Having your identity stolen can lead to various stressful situations, especially if criminals get a hold of your tax information. Using your Social Security number, they may use a fake return to steal your refund or even get a job under your name. Fortunately, taking care of your tax preparation as early as possible and protecting your vital information can help prevent most tax identity theft.

How to Protect Yourself From Tax Identity Theft

1. File Your Returns Early

The IRS will only accept one tax return per Social Security Number, so it’s a good idea to file yours as soon as possible. After receiving your return, the IRS will automatically reject any others that come in under your name. Early tax preparation also ensures you get your refund quickly and gives you a chance to correct mistakes before the deadline.

2. Don’t Give Out Your SSN

Criminals get many Social Security Numbers from data breaches of private companies who keep that information in poorly secured systems. Keeping your information out of those databases minimizes the chances of it falling into the hands of cybercriminals and spammers. The safest approach is to only give your SSN to the IRS or financial institutions that require it.

3. Learn About the Scams

Scammers obtain tax information through a variety of schemes designed to scare you. Many of these feature urgent phone calls from people pretending to be with the IRS or other government agencies. They may even threaten you with arrest or demand immediate payment through a wire transfer or even gift cards. If you receive any of these calls, don’t provide your sensitive information and report the caller to your state Attorney General immediately.

Whether you’re looking for affordable, detailed tax preparation advice or someone to handle your business’s finances, you can rely on the team at Demshar Eaton CPA. They have over 20 years’ experience serving individuals and businesses throughout Ashtabula, OH, providing customized services and results that will exceed your expectations. Visit their website for more on their tax preparation and other services, get tips and advice on Facebook, or call (440) 992-6622 to make an appointment.