The Need for a Greater Sense of Urgency in Filing Taxes Earlier this Season
It’s always nice to have clients who file their taxes early. These clients are usually buttoned up and like to get their taxes out of the way as quickly as possible. Of course, there are those clients who wait until the eleventh hour and have to file for extension. And there are all those in between. Today, though, there is an important reason for every taxpayer to file as quickly as possible. The reason: to avoid becoming the victim of criminals who file a return under your name before you do.
It’s true. Even though the IRS and tax industry have put new ‘protective procedures’ in place, it seems that the criminals are two or three steps ahead. According to an article posted in Accounting Today, “The Internal Revenue Service’s new security measures this tax season to counter identity theft and tax fraud appear to be having little impact so far on criminals, according to a security expert who monitors the online chat rooms where fraudsters swap taxpayers’ sensitive personal and financial information.”
The article says that several software venues have already sent out warning to thousands of their customers telling them their confidential information may have been compromised. (TaxAct and TaxSlayer are named specifically.) In addition the article states, “Nearly two dozen Liberty Tax Service franchises have also been caught sending high volumes of suspicious tax returns in the state of Maryland.”
Best advice this tax season: don’t delay. Get your taxes prepared and filed as soon as possible by a reputable tax preparer. And be extra protective of your private information.