One of the last things anyone wants to feel is a lack of control in their day-to-day lives. Identity theft in any situation makes your financial situation shaky and unpredictable. When it affects your social security and taxes, you suddenly risk legal complications.
The costs of reversing the damage done from identity theft and the hassle of dealing with officials like the IRS may stack undue stress onto you. It is important to understand the signs of identity theft to handle the situation as quickly as possible to help reduce that stress.
Signs of identity theft
Common indicators of identity theft include unexplained purchases in your bank accounts. Other signs may be less easy to uncover like unknown credit cards taken out in your name that affect your credit score. As the IRS details, you might not even know someone used your identity until the IRS tells you your return has issues.
Solutions to identity theft
There are other signs in the tax process that you may be a victim of identity theft including an inability to e-file your tax return, receiving unrequested tax transcripts or receiving notice that you owe additional taxes you did not know about.
Taking these signs seriously is the first step to resolving these issues. There are actions to take immediately like swapping passwords or increasing the security of your electronic devices. Banks may reverse large purchases made in your name. In the event of serious issues involving identity theft and the IRS there are resources available to you to help investigate your situation and reach a resolution to your problems.