Expertise Beyond the Numbers

8 Tips to Protect You and Your Family from Tax-Related Identify Theft

The following information from SC&H Group reviews eight tips from the American Institute of CPAs (AICPA) to protect you and your family from tax-related identity theft.

Tax-related identity theft continues to be an ever-growing crisis with no signs of slowing. According to the Treasury Inspector General for Tax Administration, the IRS identified $227 million claimed in fraudulent refunds during the first two months of the 2016 tax season alone.

In another staggering example, over 2.4 million taxpayers were impacted by fraudulent refunds in tax year 2013, according to the Government Accountability Office (GAO).

To make matters worse, cybercriminals are becoming more sophisticated. For instance, earlier this year, the IRS and state tax agencies issued an alert to employers about an elaborate Form W-2 phishing email scam.  In this year’s version, the scam includes a new twist that can maximize the amount of information and money that cybercriminals can steal from organizations.

As cybercrime evolves, and the methods cybercriminals use grow in complexity, how can you protect yourself and your family from becoming a victim of identity theft?

It always pays to be hyper-vigilant. The AICPA recently shared proactive steps to take and resources to review to protect you and your family from tax-related identify theft, which are highlighted in the document below.

The unfortunate reality is that personal data is constantly at risk.  If you determine that your information has been compromised, SC&H Group is here to help.  

We take data protection and privacy protection very seriously.  Our security and data integrity meets the highest industry standards.  We have established protocols to safeguard sensitive files, and will work together to reduce the likelihood of you or a loved one being the next victim of a cyberattack.  

To learn more about the latest scam developments and ways to reduce risk, contact SC&H Group here.