How can you reduce your chance of becoming a victim of tax related ID theft?

The Boise Police Department Crime Prevention Unit has this warning…File your taxes before a criminal does.

In January, companies mail tax documents that you will need to file your tax return. If you have not received these documents by the end of January, contact the company.

Once you receive every document needed to file your tax return, don’t wait, file immediately.

If your social security number has been compromised, a criminal could file a tax return in your name.

The first return received by the IRS will be processed, and if it is fraudulently filed in your name, the thief will receive a refund. The IRS will not process any additional returns filed in your name. This situation is not easily remedied and will require a lot of effort to fix.

How do you know you are a victim?  If you file on-line, your return will be rejected almost immediately.  Otherwise, the IRS will notify you, by mail, that multiple returns have been filed in your name.

For those who are not receiving a refund, many times, there is no rush to pay the taxes owed when the tax return is filed. However, in the meantime, a thief could file a tax return in your name with fake documentation and receive a very large refund.

File your tax return quickly to avoid the headaches you will have for months or years to come, if tax fraud is committed in your name.