The theft of your
identity, especially personal information such as your name, Social Security
number, address and children’s names, can be traumatic and frustrating. In this
online era, it’s important to always be on guard.
Here are seven steps you
can make part of your routine to protect your tax and financial information:
1.
Read your credit card
and banking statements carefully and often – watch for even the smallest charge
that appears suspicious. (Neither your credit card nor bank – or the IRS – will
send you emails asking for sensitive personal and financial information such as
asking you to update your account.)
2.
Review and respond to
all notices and correspondence from the Internal Revenue Service. Warning signs
of tax-related identity theft can include IRS notices about tax returns you did
not file, income you did not receive or employers you’ve never heard of or
where you’ve never worked.
3.
Review each of your
three credit reports at least once a year. Visit annualcreditreport.com to get your free
reports.
4.
Review your annual
Social Security income statement for excessive income reported. You can sign up
for an electronic account at www.SSA.gov.
5.
Read your health
insurance statements; look for claims you never filed or care you never
received.
6.
Shred any documents with
personal and financial information. Never toss documents with your personally
identifiable information, especially your social security number, in the trash.
7.
If you receive any
routine federal deposit such as Social Security Administrator or Department of
Veterans Affairs benefits, you probably receive those deposits electronically.
You can use the same direct deposit process for your federal and state tax
refund. IRS direct deposit is safe and secure and places your tax refund
directly into the financial account of your choice.
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