Did you know, tax identity theft is the most common form of identity theft reported to the Federal Trade Commission (FTC)? The issue has become so prevalent in recent years, the FTC has designated January 29- February 2, 2018, as Tax Identity Theft Awareness Week.
What is tax identity theft?
Tax identity theft occurs when someone files a tax return using your information, such as your Social Security number, in hopes of stealing your tax refund. Should you become a victim of tax identity theft, you will find out about it when you receive a letter from the IRS stating: IRS records show wages from an employer you do not know or work for, or more than one return has been filed in your name.
Protect Your Identity
Do not fall victim to tax identity theft by following these tips:
File as soon as possible
Once you have received all the necessary paperwork, file right away. In doing so, a thief cannot file a return in your name if you have already filed a legitimate return.
File safely and securely
Use a trusted service when filing your taxes, whether it is online or in person.
Protect your Social Security Number or Medicare number
Do not give out your personal information unless you must. Be sure to ask why it is needed, how it will be used, and where and how it will be stored.
What to do if your Social Security Number has been stolen
When someone has filed a tax return using your Social Security number, you should receive a letter from the IRS. If you don't receive a letter and still suspect a fraudulent return has been filed with your personal information, there are steps you can take: Visit the identitytheft.gov website, to report identity theft to the FTC and get a recovery plan.
Miami, Fort Lauderdale, and West Palm Beach are some of the top metro areas for identity theft complaints in Florida. Make sure you are protected.
You may also consider obtaining Identity Theft protection from Edison Insurance Company. Talk to your agent about adding an identity theft endorsement to your policy for as little as $25 a year. Edison's endorsement will reimburse you for up to $25,000 for expenses incurred to restore your credit, as well as, provide you with "resolution services" from a consumer fraud specialist who will assist you in the process of restoring your identity and your credit to the level it was prior to the breach.
Keeping your family and home safe and protected is Edison Home Insurance Company's number one priority. We have taken a bright and innovative approach to FL homeowners insurance with coverage options allowing you to customize a policy to best fit your needs. To learn more about Edison Insurance Company, or to get a personalized quote, call us at (866) 568-8922.