Tax season is upon us and that can cause some serious concerns. There has been a weakness found within the IRS’ website, specifically with their “Get Transcripts” option. Cybercriminals have found a way to infiltrate the option and steal victims’ prior tax data.
When the crooks request Get Transcripts, it opens a gateway for refund fraud that allows them to claim a large refund in your name and intercept the payments. You won’t even know you’ve been hit until your returns are rejected.
The IRS is offering free credit monitoring through Equifax for all affected customers and providing extra scrutiny on tax returns from citizens with affected SSN’s. They have done an expanded review and learnt of additional suspicious attempts to access taxpayer’s accounts using their sensitive information.
A plan of action to notify and help protect the taxpayers has been taken. They are offering free identity theft protection and identity protection PINs.
A partnership between the IRS, the state revenue department, and the tax industry has been formed to create a Security Summit effort. New password standards have been set for the tax software and better information on how you need to protect your personal, tax, and financial data has been provided.
How can you combat tax-related identity theft? Here’s a few tips you need to follow:
C.D.'s IT Consulting LLC understands the importance of securing your confidential information. Contact us at (317) 522-1362 ext 2 or email us at firstname.lastname@example.org to book a consultation and get started immediately.