Taxes are due on April 15th; this means that the next month or so will involve a lot of people scrambling to get year old paperwork together and trying to make sure that they have all of their bases covered. All of the scrambles of tax season give identity thieves an easy “in” to more easily steal your identity through use of your social security number and personal information.
Why is tax season such a vulnerable time?
The main reason that identity thieves are out so thick right now is simple; they want your money and tax scams are fairly easy for them to run if you’re not informed and prepared. Identity theft tops the list for tax scams, according to the IRS. In 2012, identity theft losses totaled up to 24.7 billion dollars (that’s right, billion). It’s very important that you take the proper steps to protect yourself and your identity this tax season.
What can I do to avoid identity theft?
There are a couple of answers to this question (you may be wondering how it relates to insurance. Sit tight).
1. Get your taxes in early. Once your social security number has been used to file your taxes, it obviously can’t be used again. The sooner you get your taxes filed, the better your chances of avoiding becoming a victim of identity theft.
2. Use secure methods. Remember to use trusted sources when filing your taxes. Either use snail mail with return receipt or a secured internet connection. If you’re using a tax service, know their credentials and make sure that you trust them implicitly before giving them your tax and personal information.
3. Invest in homeowner’s insurance and be sure to add identity recovery coverage. You may not know this, but homeowner’s insurance can actually help you if your identity is stolen. Wachter’s homeowner’s insurance with identity recovery coverage will help protect the cost of expenses during your recovery process, as well as providing you with a case management service to help you restore your identity and get your feet back on the ground.
Go into this tax season confident that your identity will be safe, and that if anything does happen, you’re covered and taken care of with a good homeowner’s insurance policy.
Wachter Insurance Agency opened its doors in 1969 and incorporated in 1996. A family owned and operated agency—now with the 3rd generation actively participating. We are an independent agency representing the ERIE Insurance Group, Progressive, AIC – Agency Insurance Co., Foremost, Chesapeake Employers Insurance, and Wright Flood. Offering auto, home, motorcycle, boat, flood, business and life insurance coverage. If you have any questions about our blog, How Can Homeowner’s Insurance Help with Identity Theft? or you’d simply like to talk to a representative, please feel free to contact us at 301.371.6335.
Source: Tax Scams A Dime a Dozen