Tax season is not just busy for CPAs and Financial Advisors. It is also one of the most active times of year for identity thieves. Fraudsters know that sensitive information is being exchanged. Social Security numbers, dates of birth, bank account details, income statements, and signatures are moving between inboxes, portals, and offices. That creates opportunity. Here are some practical steps to help safeguard yourself this filing season.
• File your tax return as early as reasonably possible to reduce the risk of someone filing fraudulently in your name
• Use secure client portals to exchange documents with your CPA or advisor rather than sending sensitive information by email
• Verify any communication claiming to be from the IRS. The IRS does not initiate contact by email, text message, or social media
• Enable multi factor authentication on email, financial accounts, and any platform used to store or transmit tax documents
• Use strong, unique passwords for financial and tax related accounts and consider a reputable password manager
• Avoid accessing financial documents on public Wi Fi networks, especially when uploading or downloading tax information
• Shred old tax documents and financial paperwork before discarding them
• Monitor bank and investment accounts regularly for unfamiliar transactions or unexpected IRS correspondence
• Consider enrolling in the IRS Identity Protection PIN program for an added layer of filing security
• Confirm that your CPA uses secure data storage and encrypted communication systems
Protecting your identity is part of protecting everything you have worked to build. A few proactive steps today can prevent significant disruption tomorrow.
Disclosure
This material is provided by Gryphon Financial Partners, LLC (“Gryphon”) for informational purposes only. It is not intended as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Facts presented have been obtained from sources believed to be reliable, though Gryphon cannot guarantee their accuracy or completeness. Gryphon does not provide tax, accounting, or legal advice. Individuals should seek such guidance from qualified professionals based on their specific circumstances.