Timeliness Tip to Protect Yourself from Identity Theft

As a follow up to last week’s post, “IRS Tips to Keep Your Tax Records Secure,” we bring you an additional tip to help protect against identity theft.

Timeliness

timeliness.jpgIn addition to the IRS’ tips on keeping your tax records secure, it is strongly recommended that you file your tax returns as soon as possible to prevent identity thieves from striking. The quicker you get your taxes filed with your accountant, the better.

Why? Because the IRS accepts the first tax return they receive as a reliable document. If they receive a second tax return filed for a person or business, it will be rejected and you will be sent a notice. If you are targeted as a potential victim of identity theft through income tax fraud, filing your returns as soon as possible will greatly reduce your risk of thieves receiving an approved tax return in your name. This simple act of timeliness could be the key in ensuring a smooth income tax filing process in 2016.

To learn additional steps you can take to protect your personal and financial data, visit Taxes. Security. Together. You also can read Publication 4524, Security Awareness for Taxpayers.

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on IRS.gov.

For any questions about the content in this article or tax preparation and planning, please contact the tax experts at KatzAbosch here or call 410.828.CPAS.

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