The U.S. Department of the Treasury reported that the IRS had identified more than 1 million tax returns as possible identity theft in early March.

Identity theft has been a growing problem and the IRS has stepped up its security measures.

Taxpayers can take preventive measures, such as applying for an Identity Protection Personal Identification Number before tax season.

During the 2023 tax season, the IRS identified more than 1 million tax returns as potential identity theft, according to the U.S. Department of the Treasury. This shows that identity fraud remains a pervasive problem for taxpayers.

Tax-related identity theft occurs when criminals use a person's personal information to file a return in their name and claim their federal tax refund.

According to a report issued by the Treasury on Tuesday, as of March 2, the IRS had identified nearly 1.1 million tax returns as potentially fraudulent. These fraudulent statements represented refunds totaling approximately $6.3 billion.

On the same date in March, the Treasury reported that the IRS had confirmed 12,617 tax returns as fraudulent. This figure represents an increase compared to the 9,626 fraudulent statements confirmed in the same period of the previous year.

It's clear that identity theft continues to be a serious problem during tax season. Therefore, it is important for taxpayers to take preventive measures, such as applying for an Identity Protection Personal Identification Number, to protect themselves against potential fraud.

The Multiservices Family takes this very responsibly, all our clients who require support can come to the office where they made their declaration or call our call center for assistance with the identity verification process.

Tips for preventing identity theft:

1. Protect your personal information: Keep your important documents, such as your social security number and credit cards, in a safe place. Don't share sensitive personal information via email or unsecure messages.
2. Use strong passwords: Create unique and complex passwords for your online accounts. Avoid using easily identifiable personal information, such as birthday dates or pet names.
3. Regularly update your devices: Keep your operating system, antivirus and applications updated to avoid security vulnerabilities.
4. Beware of suspicious emails and links: Don't open or download attachments from unknown senders. Avoid clicking on suspicious links or providing personal information on unsafe websites.
5. Use additional security measures: Consider activating two-factor authentication for your online accounts. This provides an additional layer of protection by requiring a unique code in addition to your password.
6. Monitor your accounts regularly: Check your bank and credit card statements regularly to detect any suspicious activity or unauthorized transactions.
7. Request an identity protection identification number (IP PIN): The IRS offers an IP PIN that provides an additional layer of security when filing your tax return. This number helps prevent scammers from filing fraudulent statements on your behalf.

Remember, prevention is key when it comes to protecting your identity. Follow these tips to reduce the risk of identity theft and keep your personal finances safe.

Source: [cnbc.com]

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