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How do you Protect Yourself from Tax-Related Identity Theft?

Picture of Heather Palermo Heather Palermo · August 12, 2014

small business accounting business & tax strategy

A recently-released survey by taxAudit.com of 2,000 Americans on the subject of tax scams noted that nearly 80 percent of Americans feel vulnerable to a tax scam or tax related identity theft. Certainly, you can be sure that James Hamlin & Co. is vigilant in keeping your identity safe. Knowing you have a trustworthy tax preparer you can count on, will provide you with a peace of mind.

Here are a few more things you can do to help ease your mind and keep your identity secure:

Place tax documents in a secure location, such as a safe or a locking file cabinet, and store them there until needed to prepare tax forms. Do not leave them in a car.
Do not follow links in emails or text messages to the IRS site. Always type “irs.gov” directly into a browser to avoid vicious links. Report fraudulent IRS emails, texts or phone calls to phishing@irs.gov.
If someone calls you claiming to be from the IRS or another tax authority and asks for money, hang up right away.
Similarly, if someone calls you claiming to be from the IRS or another tax authority and needs to “verify” some information – like a PIN number or bank account number, hang up immediately.
If a person e-mails you and offers assistance in helping you receive your tax refund, that person is a fraud. The IRS does not contact taxpayers via e-mail.

If you do fall victim to a tax scam, seek guidance from the many resources available at IRS.gov.

Kaizen CPAs works with auto repair shops across the country. We know running a successful shop takes more than keeping the bays full. We help shop owners understand their numbers, stay ahead of taxes, and build stronger, more profitable businesses. Auto repair is at the heart of what we do, but we bring the same practical, hands-on approach to businesses in other industries, too.

YPD HCM is part of the Kaizen CPAs family. YPD HCM helps small businesses manage payroll, HR, and compliance with the right tools and personal, human support—from payroll and tax filings to onboarding, employee management, and more. It’s practical help for the people side of your business, from a team that’s there when you need them.

The information in this article is provided for general educational purposes and reflects conditions as of the publication date. It is not legal, tax, accounting, payroll, HR, or compliance advice. Every business is different, so talk with a qualified professional about your specific situation.