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Tax Refund Fraud - What is Your Best Defense?

Bottom Line IT
February 13, 2016 10:03 AM

ASKThe U.S. Federal Trade Commission (FTC) today said it tracked a nearly 50 percent increase in identity theft complaints in 2015, and that by far the biggest contributor to that spike was tax refund fraud.

The announcement coincided with the debut of a beefed up FTC Web site, aimed at making it easier for consumers to report and recover from all forms of ID theft. Your best defense against tax refund fraud? File your taxes as soon as possible. Unfortunately, many companies are only now starting the process of mailing out W2 forms that taxpayers need to complete their filings, while fraudsters are already at work. Also, if you use online tax preparation services, please pick a strong password and do not use a password that you also use at another site or service.

FTC: Tax Fraud Behind 47% Spike in ID Theft

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