Tax season is in full swing. However, thousands of people lose millions of dollars each year as a result of tax-related scams. Read on for Steve Sexton's best tips on how to stay safe from tax season fraud and identity theft.
confirm credentials
If you're working with a tax preparer, make sure they have a Tax Preparer's Identification Number and check their references.
Beware of phone scams
Tax season is prime time for phone scams. Beware of scammers who pose as IRS agents. Their goal is to steal taxpayer money or your personal information.
Be on the lookout for SSN scams
Scammers are also claiming to suspend or cancel a taxpayer's social security number. They'll leave you a voicemail or send a text message claiming you have overdue taxes and threaten to cancel your SSN.
Consider credit monitoring
If your identity gets stolen or a scammer files a false tax return, it could take six months or more to get your money back. A credit monitoring service can help alert you to changes or updates to your credit.
the irs will only contact you via snail mail
If you receive an email, text message or social media DM from someone claiming to be from the IRS, it's likely a scam.
Want more financial tips from Sexton Advisory Group? Tune into Saving with Steve with your host Steve Sexton here.