Sexton Advisory Group's Tips On How To Protect Yourself From Tax Season Fraud

Tax season is in full swing. However, many people lose thousands of dollars each year as a result of tax-related scams. With over 20 years of personal finance and retirement planning experience as a financial consultant and CEO of?Sexton Advisory Group, here are some of my essential tips to stay safe from tax season fraud and identity theft.?

Confirm credentials

If you're working with a tax preparer, make sure they have a Tax Preparer's Identification Number and check their references.

Beware of phone scams

Tax season is prime time for phone scams. Beware of scammers who pose as IRS agents. Their goal is to steal taxpayer money or your personal information.

Be on the lookout for SSN scams

Scammers are also claiming to suspend or cancel a taxpayer's social security number. They'll leave you a voicemail or send a text message claiming you have overdue taxes and threaten to cancel your SSN.

Consider credit monitoring

If your identity gets stolen or a scammer files a false tax return, it could take six months or more to get your money back. A credit monitoring service can help alert you to changes or updates to your credit.

The IRS will only contact you via snail mail

If you receive an email, text message or social media DM from someone claiming to be from the IRS, it's likely a scam.?