Be On Alert For Tax Fraud This Time Of Year

It's a growing concern this time of year: tax identification theft  and fraud.  And Gisele Jefferson of Colorado State University Extension says thieves only need a few key pieces of information to make your life miserable.

"Your name, social security number, and your birth date. That can all link up with the previous records and appear to be authentic and look like it's coming from you."

And that allows the bad guy to file a phoney tax return using fraudulent W-2s and other tax forms.  Jefferson said in some cases thieves have been able to use that information to land a job or file returns based on what they earn.  And she said often victims don't know they've become a target until it is too late.

"It won't be until perhaps you go to file your tax return that you might get a statement from the IRS saying that this is a duplicate; that there has already been a tax filing in your name and for your account."

Jefferson said if you are the victim of tax ID fraud, or a fraudulent use of your social security number, report it immediately to your local police, the IRS through its ID theft affidavit form, and the social security administration.   And in all instances provide proof of your identity.