Seven Steps for Making Identity Protection Part of Your Regular Routine

From Neikirk, Mahoney & Smith, the IRS has recently published seven steps for making identity protection part of your routine. Identity theft can be incredibly traumatic and frustrating. And in this day and age, it's always best to be on your guard against it.

Here are their seven tips on keeping yourself protected:

1. Regularly read your credit card and banking statements. Keep and eye out for anything that looks remotely suspicious. Keep in mind that neither your credit card nor bank – or the IRS – will send you emails asking for sensitive personal and financial information such as asking you to update your account.

2. Review and respond to all correspondences and notices from the IRS. Warning signs of tax-related identity theft can include IRS notices about tax returns you did not file, income you did not receive or employers you’ve never heard of or where you’ve never worked.  

3. Review each of your three credit reports at least once a year. Visit annualcreditreport.com to get your free reports.

4. Review your annual Social Security income statement for excessive income reported. You can sign up for an electronic account at www.SSA.gov.

5. Read your health insurance statements; look for claims you never filed or care you never received.

6. Shred any documents with personal and financial information. Never toss documents with your personally identifiable information, especially your social security number, in the trash.

7. If you receive any routine federal deposit such as Social Security Administrator or Department of Veterans Affairs benefits, you probably receive those deposits electronically. You can use the same direct deposit process for your federal and state tax refund. IRS direct deposit is safe and secure and places your tax refund directly into the financial account of your choice.

To learn additional steps you can take to protect your personal and financial data, visit Taxes. Security. Together. You also can read Publication 4524, Security Awareness for Taxpayers.

You can also contact Neikirk, Mahoney & Smith PLLC at 502-896-2999, or through our website contact form.