General

Tax identity theft is a type of identity theft that occurs when someone uses your personal information to file a fraudulent tax return and claim a refund. It can have serious consequences, including delays in receiving legitimate refunds, penalties for underpayment, and damage to your credit score. In this article, we’ll explain how tax identity theft occurs, how to spot the warning signs, and what you can do to protect yourself from Tax Fraud How Tax Identity Theft Occurs Tax identity theft can occur in a number of ways. For example: Phishing scams: Scammers request personal information such as Social Security numbers or bank account details through emails or phone calls that appear to be from the IRS. Data breaches: Hackers steal personal information from large companies or government agencies and sell it on the black market for tax identity theft purposes. Stolen mail: Criminals steal mail that contains personal information, […]

Identity theft is a growing concern for individuals and businesses alike, and as it pertains to accountants, it is important to consider offering identity theft protection services to clients. Not only can this service provide peace of mind for clients, but it can also help protect the accounting firm’s business from potential liability.  Is your Accountant offering identity theft protection? One of the main reasons why an accountant should consider offering identity theft protection services is the transfer and handling of sensitive documents and information. Accountants have access to a wide range of personal and financial client information. Information including Social Security numbers, bank account information, and tax returns. If this information were to fall into the wrong hands, it could be used for identity theft and other fraudulent activities. Identity theft protection services can help protect clients from this risk by providing monitoring and alerts for suspicious activity, as […]

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”] Identity theft is a growing concern for both individuals and businesses. Employers are starting to recognize the importance of offering identity theft protection as a benefit to their employees. As a company, it’s imperative to offer a comprehensive employee benefits package that not only attracts new talent but also helps retain the current workforce. Offering identity theft protection as a benefit is a proactive approach to protecting your employees, their financial well-being, and the company’s reputation, productivity, and compliance. In this article, we will look at the 5 reasons employers offer identity theft protection as a benefit to their employees. Below you will find 5 reasons employers offer id protection to their employees: Employee retention: Offering identity theft protection is a valuable benefit to employees, helping with employee […]

Did you know that individual tax refunds are a popular target for cybercriminals seeking to profit from stolen identities? And that early tax filing helps prevent tax-related identity theft. According to the IRS, tax returns with confirmed cases of identity theft continue to increase year over year. Taking the necessary precautions to protect yourself from tax-related identity theft is important, and filing your taxes early is one of the best ways to help safeguard your identity Discover why the IRS advises taxpayers to file as soon as possible, as well as the most common warning signs of tax-related identity theft.   Tax-Related Identity Theft: What Is It? Tax-related identity theft occurs when a criminal claims a tax refund using a stolen Social Security number in the victim’s name. The victim may spend months correcting false deductions, incorrectly reported income, and other issues with their tax return. According to the IRS, […]

A favorite holiday tradition is visiting family while on the road. But we must be careful not to reveal our identities to everyone as we go about spreading holiday cheer. Holiday travel fraud is here and there are some things you should do to prepare. Because of all the holiday commotion, gift givers, shoppers, and travelers can be a treasure trove for identity thieves who know you might be letting your guard down. If you’re anything like me, you struggle to stay within your budget; however, don’t give the bad guys access to every aspect of your life and finances. Here are a few things to keep in mind before you crack open the eggnog! Put your mail on hold; arrange to have all important documents delivered electronically. Additionally, contact the post office to have your mail held. Social media: This one is hard!  We all want to share our […]

It is such an exciting time of year with holiday parties, buying presents for your favorite people, and enjoying family! But it is also important to keep in mind that online shoppers and the holidays are two things that cybercriminals enjoy during this exciting time. Because Criminals Love the Holidays! It is wise to keep in mind that websites can be compromised or even spoofed at this time. There are already fake shipping notifications, fake holiday contests, and phishing and vishing scams out there looking for your information. Threats during the holiday season should serve as a reminder of two crucial life lessons: Your private information is not as private as you might believe. and cyber thieves do not take the holidays off; in fact, they turn up the volume! Below are 5 things to consider while you are out spreading holiday cheer! Deal with businesses you know and trust. […]

  Over 92,000 victims lost $1.7 billion to elderly Identity theft and fraud in 2021, according to the 2021 FBI Elder Fraud Report. These losses increased by 74% compared to 2020. Elders and seniors (those 60 years of age and older) were the targets of cybercrime and ID theft, with an average loss of $18,246 per senior victim. 3,133 elderly victims also suffered losses totaling more than $100,000 each. Unfortunately, our prediction has come true. We wrote an article in September 2019 titled 2020 Prediction: Senior ID Theft to Get Significantly Worse. So how does elder or senior fraud occur? According to the FBI, “elder fraud takes many forms as criminals find ways to take advantage of this vulnerable and growing population.” “Seniors are a particularly vulnerable victim group and are often specifically targeted for financial fraud crimes.” Additionally, according to the FBI, “seniors are often more polite and trusting, have difficulty […]

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]Identity fraud is a challenging and sensitive issue. It is typical for you and your family to experience emotional distress as a result of this crime. Give yourself time to work on mending the emotional impact of ID Fraud that you and your family experienced. Be ready for a range of different feelings. Few individuals are psychologically ready for the effects of identity theft. Identity theft victims may at times experience overwhelming psychological pain from loss, helplessness, rage, loneliness, betrayal, and even embarrassment. Deep-seated worries about one’s ability to maintain financial security, keep family members safe, and regain trust are brought on by this crime. Another issue you might have to deal with is the possibility that the theft involved a person you know. Finally, you might become irritated […]