Tax related Identity Fraud

 We hear in the news now how important it is to file your taxes sooner rather than later for a number of reasons. The main reason to file asap is because of tax-related identity theft which happens when someone uses your Social Security number to file a return and claim a fraudulent refund. You may find out through a rejected tax return or IRS letter, among other warning signs. Just be aware that experts say it’s critical to have all your tax forms before filing your return. Companies send a copy of these forms to you and the IRS every year, making it easy for the agency to flag returns with missing information. Typically, skipping these details triggers an automated notice from the IRS, which may delay processing or take time to resolve. Most tax forms arrive by late January to mid-February, but others may be later. Once you know you have all the documents you need, you can file. If your tax situation hasn’t changed from last year, you can look at what was used for last year's taxes to know if you have all the information needed for this year’s taxes.