Claim Your Tax Refund ASAP to Thwart Identity Thieves
With tax season approaching, identity thieves can’t wait to use stolen Social Security numbers to obtain fraudulent refunds. Whether you are awaiting a refund or not, you can file your tax return as soon as you have all the required paperwork.
Kiplinger explains that the IRS and most state tax authorities do not receive W-2 information until April, and due to tightening security measures, some refunds may be delayed. This gives identity thieves the opportunity to file a fraudulent refund using your Social Security number if they have one:
The IRS still expects to deliver 90% of federal reimbursements within 21 days of filing the return. This gives the mobsters enough time to file a fraudulent report before the IRS gets your W-2. Starting next year, the IRS must get W-2 at least one month early, thanks to a law passed in 2015.
Until then, the best defense is to file your tax return as soon as possible. This won’t stop the scammers who stole your social security number from filing a fraudulent return, but they can’t steal the refund you’ve already demanded.
You can also file an Affidavit of Identity Theft (Form 14039) with the IRS if you believe your Social Security number was stolen to further protect your IRS account.
Even if you are not worried that someone will steal your tax refund, you should still apply in advance for several reasons we mentioned earlier : you will receive your refund earlier, you will have more time to plan if you owe money (he should not be until April 15) and you will have more time to sort out any issues that arise. This is a busy time of year for accountants and tax companies, so it will be easier for you to apply if you don’t wait until the last minute.
Demand Tax Refunds ASAP to Stop ID Thieves | Kiplinger