How Retirees Can Prevent Their Tax Refund From Being Stolen

How Retirees Can Prevent Their Tax Refund From Being Stolen

Many people in retirement across the globe usually cont on their tax refund. If you are one of these people, then I bet getting that money stolen is the last thing you want. Unfortunately, criminals normally target tax refunds and any money that belongs to senior citizens. In other words, criminals see people who are 65 years and older as easy targets. Now, how then can you prevent criminals from getting their filthy hands on the money that is rightfully yours? Here are some of the most effective ways to get 2019 medicare advantage plans prevent criminals from stealing your tax refund.

  1. File your taxes ahead of time

Filing your tax returns ahead of every year’s deadline can help you a great deal in avoiding being a victim of fraud. But how can filling your taxes earlier help you avoid fraud? In case your identity is stolen, the criminal who has done so can file taxes on your behalf. This means that they will also collect the tax refund that will go along with your tax filing. In case you try to file returns after a criminal has done so, the tax body I your country will reject it after flagging it down as a duplicate. The reverse happens to the criminal if you do the filling ahead of time. So, when they try to file returns with your name, theirs will be rejected.

  • Know exactly how the tax body in your country communicates with tax filers

It’s good to know how the institution responsible for collecting taxes in your country usually communicates with tax filers. This way, you will know when it’s a criminal trying to pretend to be the tax body communicating with you just to still your identity with an aim of stealing your tax refund. In most countries, the communication is usually done through the old-fashioned mail. In case you receive a message, email, or a phone call, then it’s good not to respond. Instead, forward the message to the official institution that handles tax issues in your country.

  • Know when you should expect the refund

In many countries, the refunds are usually issued within a month if the filing was done electronically. In case you file your returns but fail to receive your cash within the time the filers are supposed to receive their funds, then you should follow up immediately to ensure that your money did not end up in the hands of criminals.