Education Center

Reduce the risk of identity theft

Tax Identity Theft: What to do if you are a victim?

tax_id_theftTis the season for tax filing! As the deadline approaches, you may find that someone else has fraudulently filed your taxes, claiming your refund check for himself. Last year, 1.6 million taxpayers were affected by identity theft in the first six months alone. While the IRS has created new measures to protect against taxpayers – like adding new pre-fund filters and limiting the way people direct deposited refunds – there are still taxpayers who will fall victim to identity theft.

Did the identity thieves beat you to the punch? If you suffered tax identity theft this season, here are some ways you can remedy the problem:

  • File an Identity Theft Affidavit with the IRS, ASAP. This flags your account with the IRS, letting them know they should keep an eye out for suspicious activity.
  • Place a complaint with the FTC, so that the commission can detect patterns of fraud and abuse.
  • Place a fraud alerts on your credit records. FTC shows you how in this step-by-step process.
  • Be patient. Unfortunately, these cases take time to resolve. A typical identity theft case with the IRS takes 120 days, according to the Washington Post.

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal issues or financial issues involved with credit decisions.

Two girls playing on a tablet

Kids and Online Gaming: How to Keep Your Family Safe

Nearly a third of the world’s population consider themselves “gamers.” Between smartphones, tablets, laptops, PCs, consoles, and various handheld devices, online games are becoming more accessible to both adults and kids.

...
Woman changing her password on her phone

Spring Cleaning for Your Social Media

Spring cleaning is a ritual that roughly 70% of households participate in each year. The annual practice often includes decluttering, disinfecting, dusting and organizing. But social media,

...
Visual Icons Representing Tax Preparation Fraud

How to Spot Tax Preparation Fraud

Tax fraud can be committed in a number of ways. It can happen when someone intentionally fails to report income on their taxes, or when a person files a fraudulent claim,

...

Join the thousands of
other Costco Members

Join Now!
  • Categories

  • *$8.99 per person per month for Executive Members or $13.99 per person per month for Gold Star and Business Members, plus sales tax where applicable. Service provided by Experian®.