Tax-Related Identity Theft: It happened to you. Now what?

E-filing one’s taxes has become increasingly easy and prevalent over the past few years. This is great for the busy consumer with uncomplicated tax reporting needs, but it can also make things easier for those who are looking to make an easy buck.

We were recently informed by a few of our Upstate SC friends and contractors that they had been the victims of tax-related identity theft. Unaware that someone had gotten ahold of their information, when these individuals tried to e-file, they were informed that tax returns had already been filed using their Social Security Numbers (SSN).

Ok, so now you are aware of the theft, what do you do now? 

A good first step is to contact the IRS immediately. They have specialists on staff that can help to get your return filed and protect your IRS account from future theft. In addition to this, it’s a good idea to put a fraud alert on your credit reports, order your credit reports (and review them), and create an Identity Theft Report by filing a complaint with the FTC. You can also file a police report.

How can you prevent Tax-Identity Fraud from happening to you?

If you are working with a Payroll Company (as the employers of the victims we mentioned above had been) be sure to do your due diligence and ask them about information security. If your aren’t 100% satisfied with the answer – perhaps it’s time to review your provider.

At QBS, we utilize a very high level of security certification – beyond what is even required – to ensure our customers and their employees’ information is kept secure. Want to know more? Contact us today!

Read more from the FTC on Tax-Related Identity Theft:  http://www.consumer.ftc.gov/articles/0008-tax-related-identity-theft