Today, Optima Tax Relief Lead Tax Attorney, Phil, talks about tax identity theft, breaking down his top tips on how to avoid being a scam victim.
Get an IP PIN
An Identity Protection PIN (IP PIN) from the IRS is a six-digit number assigned to eligible taxpayers to help prevent the misuse of their Social Security number on fraudulent federal income tax returns. This PIN provides an additional layer of security for individuals who have experienced tax identity theft or are at higher risk of tax-related identity theft. You can request an IP PIN through your IRS online account.
Check Your Tax Transcripts for Suspicious Activity
Your IRS online account houses several types of tax transcripts. One of them is the wage and income transcript. Look for unauthorized or unfamiliar entries, such as: inaccurate income reported as earned under your SSN; employers you never worked for; and any other similar discrepancies. If you find any discrepancies, it could mean your Social Security Number has been compromised. You can also check your account transcript to see if someone filed a tax return under your name and social.
Report Stolen Identities
If you feel your identity has been stolen or compromised, contact the IRS immediately. You can call them at 800-908-4490. Be prepared to attach IRS Form 14039, the ID theft affidavit, to your tax return if you have not already filed. The IRS will review your affidavit and investigate the identity theft claim. They may contact you for further information if needed.
If you think your identity has been compromised, consider asking for help from a tax professional.
If you need tax help, contact us today for a Free Consultation.