Given the recent increase in tax filings related fraud, the IRS has issued a list of worthy suggestions. It is important to know and trust who you're working with. BRISA Financial Services takes the security of your documents and personal privacy very seriously. We don't share information or allow third party access to our computer network. We also never publish nor access your information outside of our network. We have been in practice for 23 years without incident or compromise. All personal and financial data is encrypted and backed up. Documents are retained under a secure locked environment. And when we're done with your information, each page is finely shredded.
According to the United States House Committee on Oversight & Government
Reform, over 1.1 million tax returns were filed by identity thieves for the 2011
processing year, up more than 21 times from just 51,700 fraudulent returns in
2008. In addition, the Treasury Inspector General for Tax Administration
believes that tax identity theft could cost the IRS approximately $21 billion in
fraudulent returns in the next five years.
This fast growing problem has created new challenges that will require the
IRS to confront the latest opportunity for identity thieves--stealing tax
refunds. The National Taxpayer Advocate recently reviewed this
growing problem, finding that the IRS has been ineffective in assisting tax
identity theft victims, citing internal organizational as well as procedural
issues. While the IRS is under fire, over 50 percent of consumers still
believe that the IRS is trustworthy when it comes to protecting their Social
Security number and other private information.
Tax time is among the most vulnerable for consumers with all of their most
valuable personal information being compiled and shared. The IRS must find a way to protect
consumers from falling victim to this growing threat and work to develop a swift
resolution for victims. Additionally, while the IRS has some trust with
consumers, the growing number of tax identity theft cases creates a serious and
growing gap between perception and reality.
Tax identity theft is a big problem that has grown exponentially over the
course of a few short years. The IRS has an obligation to increase awareness of
this threat and consumers need to better familiarize themselves with the issue
and how to protect themselves, especially since effective assistance might not
be available once their identity has been compromised.
To help proactively safeguard information during tax season, TrustedID offers
the following tips:
-- Monitor your tax documents closely. Make a list of everyone who pays you,
including employers, banks and brokerages, and make sure you receive hard copies
in the mail of what they send to the IRS.
-- Beware of IRS-related scams. If you receive an email or phone call asking
for your personal or financial information, delete it or send it to the FTC at
[email protected] for investigation. The IRS will never email taxpayers about issues related to their
accounts or ask for your Social Security number or financial details over the
phone. If you have any doubt whether a contact from the IRS is authentic, call
them directly to confirm it.
-- Review carefully if filing with a 3rd Party. When using CPA, EA or
national tax agency to prepare your taxes, ensure you are reviewing all the
information carefully and that all the original paperwork is returned to
you.
-- Be diligent if you are e-filing. With e-filing, evidence of fraud is
difficult to find--there are no signed tax forms, envelopes, or fingerprints.
It's easy for criminals to e-file using a real name and SSN and a phony W-2 or
Schedule C. If you're filing your taxes online, be sure to use updated firewall,
antivirus, and spyware software.
-- Take precautions if mailing your filing. If filing by mail, walk the
envelope inside of the post office and hand it to an employee. Too much mail is
stolen out of the USPS and driveway mailboxes. Send your return by certified
mail so that you know it has arrived safely. This also sends a message to each
mail carrier that they had better provide extra protection to the document they
are carrying.
According to the United States House Committee on Oversight & Government
Reform, over 1.1 million tax returns were filed by identity thieves for the 2011
processing year, up more than 21 times from just 51,700 fraudulent returns in
2008. In addition, the Treasury Inspector General for Tax Administration
believes that tax identity theft could cost the IRS approximately $21 billion in
fraudulent returns in the next five years.
This fast growing problem has created new challenges that will require the
IRS to confront the latest opportunity for identity thieves--stealing tax
refunds. The National Taxpayer Advocate recently reviewed this
growing problem, finding that the IRS has been ineffective in assisting tax
identity theft victims, citing internal organizational as well as procedural
issues. While the IRS is under fire, over 50 percent of consumers still
believe that the IRS is trustworthy when it comes to protecting their Social
Security number and other private information.
Tax time is among the most vulnerable for consumers with all of their most
valuable personal information being compiled and shared. The IRS must find a way to protect
consumers from falling victim to this growing threat and work to develop a swift
resolution for victims. Additionally, while the IRS has some trust with
consumers, the growing number of tax identity theft cases creates a serious and
growing gap between perception and reality.
Tax identity theft is a big problem that has grown exponentially over the
course of a few short years. The IRS has an obligation to increase awareness of
this threat and consumers need to better familiarize themselves with the issue
and how to protect themselves, especially since effective assistance might not
be available once their identity has been compromised.
To help proactively safeguard information during tax season, TrustedID offers
the following tips:
-- Monitor your tax documents closely. Make a list of everyone who pays you,
including employers, banks and brokerages, and make sure you receive hard copies
in the mail of what they send to the IRS.
-- Beware of IRS-related scams. If you receive an email or phone call asking
for your personal or financial information, delete it or send it to the FTC at
[email protected] for investigation. The IRS will never email taxpayers about issues related to their
accounts or ask for your Social Security number or financial details over the
phone. If you have any doubt whether a contact from the IRS is authentic, call
them directly to confirm it.
-- Review carefully if filing with a 3rd Party. When using CPA, EA or
national tax agency to prepare your taxes, ensure you are reviewing all the
information carefully and that all the original paperwork is returned to
you.
-- Be diligent if you are e-filing. With e-filing, evidence of fraud is
difficult to find--there are no signed tax forms, envelopes, or fingerprints.
It's easy for criminals to e-file using a real name and SSN and a phony W-2 or
Schedule C. If you're filing your taxes online, be sure to use updated firewall,
antivirus, and spyware software.
-- Take precautions if mailing your filing. If filing by mail, walk the
envelope inside of the post office and hand it to an employee. Too much mail is
stolen out of the USPS and driveway mailboxes. Send your return by certified
mail so that you know it has arrived safely. This also sends a message to each
mail carrier that they had better provide extra protection to the document they
are carrying.
