Stay Safe During Tax Season
Tax season can be stressful and bad cyber actors add even more anxiety to this season. Following a few best practices can help protect your refund!
As we move into 2024, cybersecurity will be top of mind for many. With tax season just around the corner, it's crucial that individuals and businesses alike take proactive steps to protect their sensitive data.
Though cyber threats evolve yearly, some best practices remain tried and true.
Here are ten tips from the Internal Revenue Service to help minimize exposure to fraud and identity theft:
Safeguard personal data. Provide a Social Security number, for example, only when necessary. Only offer personal information or conduct financial transactions on sites verified as reputable, encrypted websites.
Protect personal information. Treat personal information like cash – don't hand it out to just anyone. Social Security numbers, credit card numbers, bank, and even utility account numbers can be used to help steal a person's money or open new accounts.
Use strong passwords. Use a password phrase or series of words that will be easy to remember. Use at least ten characters; 12 is ideal for most home users. Mix letters, numbers, and special characters. Try to be unpredictable – don't use names, birthdates, or common words. Don't use the same password for many accounts, and avoid sharing them. Keep passwords in a secure place or use password management tools.
Set password and encryption protections for wireless networks. If a home or business Wi-Fi is unsecured, it allows any computer within range to access the wireless network and potentially steal information from connected devices. Whenever it is an option for a password-protected account, users should also opt for a multi-factor authentication process. Multi-factor authentication is critical to protecting your password.
Use security software. An anti-virus program should protect from viruses, Trojans, spyware, and adware. The IRS urges everyone to use an anti-virus program and keep it current. Set security software to update automatically so it can be updated as threats emerge.
Educate those less experienced about online safety. Children and those with less online experience may be unaware of the perils of opening suspicious web pages, emails, or documents. Teens and younger users can put themselves at risk by leaving a trail of personal information for con artists to follow.
Back up files. No system is entirely secure. Copy important files, including federal and state tax returns, onto removable discs, backup drives, and cloud storage. Store discs, drives, and paper copies in secure, locked locations.
Know the risks of public Wi-Fi. Connection to public Wi-Fi is convenient and often free, but it may be unsafe. Hackers and cybercriminals can easily steal personal information from these networks. Always use a virtual private network when connecting to public Wi-Fi.
Review ID Theft Central. Designed to improve online access to information on identity theft, it serves taxpayers, tax professionals, and businesses.
Avoid phishing scams. The easiest way for criminals to steal sensitive data is to ask for it. IRS urges people to learn to recognize phishing emails, calls, or texts that pose as familiar organizations such as banks, credit card companies, or even the IRS. Keep sensitive data safe and
Be aware that an unsolicited email with a request to download an attachment or click on a URL could appear to come from someone you know, like a friend, work colleague, or tax professional, if their email has been spoofed or compromised.
Don't assume internet advertisements, pop-up ads, or emails are from reputable companies. If an ad or offer looks too good to be true, take a moment to check out the company behind it.
Never download "security" software from a pop-up ad. A pervasive ploy is a pop-up ad that indicates it has detected a virus on the computer. The download most likely will install some malware. Reputable security software companies do not advertise in this manner.
Source 1 copy.ai
Source 2 https://www.irs.gov/newsroom/tax-time-guide-minimize-cyber-footprints-protect-personal-information-online
Tips:
Get an Identity Protection PIN from the IRS - An IP PIN is a six-digit number that prevents someone else from filing a tax return using your Social Security number.
Beware of emails, calls, or texts "claiming" they are the IRS. The IRS will not call without sending physical mail first.
Enable Multi-Factor Authentication which creates an extra layer of security, such as a fingerprint or a unique one-time code sent to your phone. Most online tax preparation services have this tool available.
File early! The sooner you file, the less time cybercriminarls have to file a fake return. While having your refund routed illegally to a scammer bank account isn’t common, getting done with your taxes reduces the chances. The IRS will not email, text, DM you, or try to friend you on Facebook.
Find more tips from the National Cybersecurity Alliance here.
