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As tax season approaches, it’s an important time to get your finances in order—but it’s also a peak period for cybercriminal activity. Scammers frequently exploit this time of year by sending fraudulent emails or making phone calls that appear to come from legitimate tax-related organizations. Since 2012, the IRS estimates that identity thieves have stolen more than $11 billion through tax fraud. To help protect yourself, keep the following cybersecurity tips in mind:
Watch Out for Phishing Emails
Cybercriminals often pose as trusted entities such as the IRS or tax preparation companies to deceive individuals into sharing personal information or clicking harmful links. Be cautious of unsolicited messages that request sensitive details or pressure you to act quickly. Always check the sender’s email address carefully and look for warning signs like spelling mistakes, generic greetings, or unusual requests.
Think Before You Click
When accessing important tax documents like your W-2, navigate directly to your employer’s official website rather than clicking on links in emails. Avoid downloading attachments from unknown or unexpected sources, especially those promising tax refunds or claiming urgent action is required.
Confirm the Identity of Callers
If you receive a phone call from someone claiming to represent the IRS or another tax agency, proceed with caution. The IRS typically communicates through official mail, not unsolicited phone calls, texts, or emails. If you’re uncertain about a caller’s legitimacy, hang up and verify by contacting the organization directly using a trusted phone number listed on their official website.
Report Suspicious Activity Immediately
If you encounter a potential tax scam or believe you’ve been targeted by cybercriminals, report it right away. Contact the IRS, the Federal Trade Commission (FTC), or your local law enforcement agency to file a report and receive guidance on minimizing potential damage.
Maintaining strong cyber awareness is essential for protecting yourself against tax scams and other digital threats. By staying alert, following best cybersecurity practices, and keeping yourself informed, you can better safeguard your sensitive information and enjoy a more secure, stress-free tax season.
For real estate investors, a 1031 Exchange can be a powerful tax-deferral tool, but in order to benefit, you must meet stringent IRS rules that leave little room for compromise. That’s one of the reasons it is so important to work with an experienced Qualified Intermediary (QI), who understands the complex 1031 Exchange process and IRS requirements.
In today’s business environment, trust is essential. Unfortunately, it’s also what fraudsters target first. One of the fastest-growing threats facing businesses involves spoofed communications and online account takeover scams.
Northern Bank announced today that it would begin accepting applicants for its annual $5,000 college scholarship award.
Northern Bank is a full-service bank dedicated to providing practical, common sense financial solutions to help our customers live their lives and grow their businesses. From deposit products to loans to payment and collections services, we work hands-on with our entrepreneurial customers, both locally and across the country, to provide the financial support they need to realize their personal and business goals. Founded in 1960, Northern Bank has assets of $3.22 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, and an Equal Housing Lender.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.