Unfortunately, identity theft has become increasingly prevalent with the number of victims at already over 13 million a year back in 2013. If your information gets into the wrong hands, someone else could file a fraudulent tax return and claim a refund in your name. The accountants at Sharrard, McGee & Co., PA offer some tips on preventing identity theft this tax season.

3 Tips From Your Tax Accountant for Preventing Identity Theft

1. Sort Your Mail

At the beginning of the year, you have probably received numerous tax-related statements in the mail. Whether it’s a W2 or a mortgage interest statement, these papers include personal information that thieves can use to their advantage. It’s best to store the papers you need inside of a locked safe and shred the rest.

2. Choose Secure Online Passwords

Many organizations now give you access to your tax documents electronically. While it’s fine to download your student loan interest forms online, you should select a different password for every website you use. Otherwise, hackers could get access to all your accounts if they manage to get into one. The best passwords are the ones that are difficult to guess and include capital letters and special characters if possible.

3. Don’t Share Information

It’s necessary to give your social security number (SSN) to your tax accountant, but you shouldn’t share this same information with anyone else you don’t know. The IRS is never going to call you and ask for information, either. The only other people who may need your SSN are employers and creditors if you’re applying for a loan.

After your tax returns are completed, you must keep it safe with your other sensitive records.  However if a fraudulent tax return has been filed in the past, the team at Sharrard, McGee and Co., PA will be able to assist you with the special filing requirements. They can also help you understand the changes to the tax laws and explain how these will affect you next year. Visit the website to learn more about the services they offer, or call (336) 884-0410 to make an appointment at their High Point location or (336) 272-9777 to make an appointment at their Greensboro, NC, location.