The Doing More Today team recently shared 5 tips to stay safe from tax fraud. It’s good timing as tax season heats up.
But we recently came across terrific advice from the Better Business Bureau that shared more information on protecting your personal and financial information as you get ready to file. So, of course, we wanted to share this with our readers.
“The best defense against fraud is knowledge,” said Jeff Taylor, head of commercial fraud forensics at Regions Bank. “And the best way to keep our customers – and the public– safe is to share real-time, helpful information. Unfortunately, scammers are constantly looking for new ways of taking advantage of hard-working Americans..”
6 Tips from BBB to Spot Tax Fraud Red Flags:
During tax season, keep these easy-to-follow tips in mind to help spot tax fraud red flags:.
- File early. Beat scammers to the punch.
- Consider getting a six-digit Identity Protection PIN from the IRS to provide an extra layer of security.
- Remember, the IRS won’t contact you by email, text message or social media asking for personal or financial information. This is a dead giveaway that bad actors are at work.
- But if you get a letter from the IRS notifying you about a duplicate return, respond immediately. That’s a red flag that someone may already be using your information.
- Before using a tax preparation service, get to know everything about them. Consider this: BBB Tip: How to choose a tax preparer in the U.S.
- If you fall victim to tax identity theft, contact the IRS directly at 1-800-908-4490. You can also file a complaint with the Federal Trade Commission (ftc.gov.)
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The information presented is general in nature and should not be considered, legal, accounting or tax advice. Regions reminds its customers that they should be vigilant about fraud and security and that they are responsible for taking action to protect their computer systems. Fraud prevention requires a continuous review of your policies and practices, as the threat evolves daily. There is no guarantee that all fraudulent transactions will be prevented or that related financial losses will not occur. Visit regions.com/STOPFRAUD or speak with your Banker for further information on how you can help prevent fraud.