Some taxpayers put off filing their tax returns until the last minute to avoid finding out if they owe the Internal Revenue Service (IRS) even more money. While a majority of taxpayers usually end up with a refund from the agency, others have to pay more taxes on the income they’ve made—and that’s always a bitter pill to swallow. But waiting to file doesn’t mean you shouldn’t already be going through your personal information. The IRS is now warning that if you forget to do one thing, it could cost you far more than what you might otherwise end up owing them. Read on to learn what you need to make a priority.
RELATED: The IRS Warns You Could Get Fined for Forgetting This on Your Taxes.
On March 16, the IRS posted a new alert, warning taxpayers to “stay resolute against ongoing scams and schemes” and protect their personal information online by properly securing their computers, tablets, and phones. If you don’t take steps to keep your data away from other people, you could put yourself at risk for one dangerous consequence: identify theft.
“Solid cybersecurity protection and scam recognition is vital to reduce the threat of identity theft inside and outside the tax system,” the agency explained. According to the IRS, there has been an 80 percent decline in tax identity theft from 2015 to 2019—but it’s still a real risk. The agency stopped 443,000 confirmed fraudulent returns in 2019 and had…
