At this point, many of us know whether or not the most recent data breach has compromised our financial information. If you’ve waited to take the steps to check the security of your information, the Federal Trade Commission website can help. This site outlines how to determine if your information was exposed and how to further protect yourself from fraud. The PA Department of Revenue website also has helpful suggestions for recognizing signs that identity theft has occurred and how to report it.
What remains unknown however, is if this breach will have an impact on our 2017 taxes. This is where CNBC News “Your Next Worry After the Equifax Tax Breach” can help. One of the biggest concerns of this data breach, in relation to taxes, is whether someone else will file under your Social Security Number and receive a refund. The best way to prevent this from happening is to file first. Experts are recommending filing as early as possible this year to prevent a tax breach. Be aware and suspicious of unusual tax paperwork or mail you may receive this season that hasn’t been sent in the past. You can be organized and prepared by making a list of forms and paperwork normally received and checking them off as they are mailed to you.
The PA Department of Revenue recommends that you “know your tax preparer”! ITP Taxes LLC is a local business you can trust to help you file a return this season!