It’s that time of the year again. It is time to collect all of your W-2’s, 1099’s, and so on and file your taxes. Technically, you have until April 15th to file your taxes, however you might want to do it sooner.
The IRS estimated that last year they paid $5.2 billion in fraudulent tax refunds. The root cause is due to criminals using a victim’s Social Security number and electronically filing them then having the refund electronically added to a prepaid debit card. Even if the IRS finds out about the problem, it could take months for the victim to get their refund. Your best plan of defense is always protect your Social Security number and file early to beat any thief to the punch. For more on this topic, click here:: Protect yourself from income tax identity theft
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