Sally Lindberg & Associates November 2014 Newsletter

TAX INSIGHT
November 2014

Important Tax Reminders
Start gathering any items necessary for the preparation of your tax returns, including charitable contribution receipts, stock transactions, business mileage records, medical expenses, moving expenses, unreimbursed business expenses, etc.

Ways to Protect Yourself from Identity Theft
Finding out that your identity may have been stolen can be scary and overwhelming. Identity theft occurs when someone uses your name, social security number (SSN) or other identifying information, without your permission, to commit fraud or other crimes.

Identity theft incidents are among the most complex cases handled by the IRS, which is continually reviewing processes and policies to minimize the occurrence of identity theft and help those who find themselves victimized by it.

Unfortunately identity thieves continue to create new ways of stealing personal information and using it for their gain. This makes it difficult for the IRS to thwart criminals and prevent them from using your information to file fraudulent tax returns.

There are ways to keep your information from being compromised. Here’s how you can protect yourself:
• Don’t carry around your social security card or any documents that have your SSN on them.
• Don’t give a business your SSN just because they ask. Give it only when required.
• Protect your financial information.
• Check your credit report every 12 months.
• Secure personal information in your home.
• Protect your personal computers by using firewalls and anti-spam/virus software. Update security patches and change passwords for Internet accounts on a regular basis.

Remember that the IRS does not initiate contact by email or use social media tools to request personal or financial information. The IRS does not send emails stating that you are being electronically audited or that you are getting a refund. Nor will the IRS call and threaten you over the phone. Don’t fall victim to these scams.

Did You Know?
If the U.S. had the same income tax rules it did when the levy started 100 years ago, 86 percent of households would be exempt from paying it.

Quote Corner
“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
~Maya Angelou

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