Share:
Identity Theft doubled from 2019 to 2020, according to the FTC. They received 1.4 million reports in 2020, many of them related to highjacked stimulus checks.
With the IRS issuing 156 million payments and the push for recurring payments until the pandemic is declared over, 2021 is likely to be even worse.
The Global Identity Theft Protection Services Market is expected to expand 13.06% due to the increasing cybercrime and identity theft.
nearly half of all consumers had experienced some type of identity theft already!
An April 7th, 2021 ITRC Analysis concludes that “The number of individuals impacted is
up 564 percent (51 million in Q1 2021 versus eight million in Q4 2020).”
KXLY
February 22, 2021 7:00 AM MoneyTips
Posted:
Updated:
Preparing a tax return is not most people’s idea of a good time. As a result, we tend to procrastinate and wait until the last minute to file our returns. However, there are good reasons to start preparing your tax return as soon as you have all the necessary documents:
1. Reduce the Chance of Tax Identity Theft and Fraud – By filing as early as possible, you can reduce the chances of a thief filing a fraudulent return in your name. Greg McBride, Senior Vice President and Chief Financial Analyst for Bankrate.com, calls tax ID fraud “a massive headache for people” and refers to the practice as “…one that people too often don’t find out about until after the fact. They go to file their tax return and it gets rejected because a return’s already been filed under their Social Security number.”
5 Reasons To File Your Tax Return Now psu.edu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from psu.edu Daily Mail and Mail on Sunday newspapers.