As the 2017 tax season gets underway, the Adirondack Trust Co. is urging all customers to take extra precaution when filing their returns to prevent exposure to tax fraud.
“Fraudsters are using very clever tactics to get ahold of your personal information and submit false tax notes,” said Charles V. Wait, Jr., bank executive vice president. “Consumers must be suspicious of any communication from the IRS through email, text or social media that requests personal information, and should keep a watchful eye out for missing W-2s and mail containing sensitive financial information.”
Tax identity fraud takes place when a criminal files a false tax return using a stolen Social Security number in order to fraudulently claim the refund. Identity thieves generally file false claims early in the year and victims are unaware until they file a return and learn one has already been filed in their name.
To help consumers prevent tax ID fraud, the Adirondack Trust Co. offered the following tips:
• File early. File your tax return as soon as you’re able, giving criminals less time to use your information to file a false return.