How to Avoid Tax-related Identity Theft

Tax season is upon us once again, and we’re here to give you a few friendly reminders and tips on how to protect your identity as best you can.

What is Tax-Related Identity Theft?

Tax-related identity theft is when someone uses your Social Security Number (SSN) to claim a tax return with the IRS. People usually discover this has happened when they attempt to file their own taxes and are notified that someone has already submitted a claim with their SSN.

How to Prevent It

It is much easier (and less of a headache) to take preventative measures to protect your identity rather than repair the damage after it has already been stolen. Here are some simple ways you can help prevent tax-related identity theft.

Protect Your Sensitive Information

The best way to prevent identity theft is to protect your sensitive financial information. This can be done by taking precautions such as not carrying your Social Security card on your person and taking care to shred all documents with sensitive information that a thief could potentially get a hold of.

Don’t Fall Victim to Scams

Around tax time there are plenty of scams that go around via phone call and email that will claim they are the IRS. They will typically request that you update your information or submit a payment without being sent a bill first. Beware of these scams, as they are not from the IRS, and, if you do receive one, report the incident directly to the IRS before doing anything.

Get an Identity Protection Service

Identity protection services are a great way to ensure that your personal information stays out of the wrong hands. They provide comprehensive identity protection and constantly monitor for fraudulent activity, alerting you if any suspicious activity occurs. RMLEFCU checking account holders are eligible to enroll in Kasasa Protect, our affordable identity protection and restoration solution, at any time. It begins working immediately to give you peace of mind and requires no commitment or contract.

By keeping these suggestions in mind and being aware of your sensitive personal information, you can greatly decrease the possibility of falling victim to tax-related identity theft during this tax season. If you have any questions or concerns about Kasasa Protect or your RMLEFCU accounts, please give us a call at 303-458-6660, or stop into one of our branches.