Broker Check

Avoid Tax Scams

February 29, 2024

2023 tax season is well under way, and the fraudsters, scammers, and identity thieves are out there looking for opportunities. It is very important for you to be alert.  

Here are some ways to help reduce your risk of being a victim of tax scams and fraud.

  1. File early - By filing early in the season, scammers will have less of a chance of being able to file a return for you.  Keep in mind that you should be certain that you have received all of your tax documents prior to filing. However, should you receive a document after you file, you can always amend your tax forms later.
  2. Create strong passwords - The stronger your password, the more difficult you make it for hackers to access your accounts. If necessary, use a password manager and periodically change your passwords. When available, we also recommend using multi-factor authentication. 
  3. Protect your personal information - You would think it unwise to stand in a public place and shout out your social security number or bank account number. It is equally unwise to share such information online with strangers. Protect your information as you would your cash. 
  4. Stay alert - Be wary for scamsters using phishing tactics to obtain your personal information using phone calls, texting, and e-mailing methods. They may pretend to be the IRS, Social Security Administration or your bank, and demanding that you take immediate action, send payments, or provide your personal information.