Prevent Identity Theft and E-File Your Taxes

TaxesThere are many reasons why you should e-file your taxes. By e-filing your taxes, you get your tax refund faster. By e-filing your taxes, you avoid the post office. But in terms of importance, there probably isn’t any reasons better than avoiding identity theft. Think about all the information you need to include on your tax return and how that information, if you mail your return, is being sent unsecured through the mail system.

Your tax return contains all the personal information a thief would need to steal your identity – your address and your social security number. It also contains information about your family, such as your spouse and any dependents, as well as their social security numbers. If includes the names of the banks and brokerages you use, those are included as 1099s, as well as roughly how much is in each of those accounts (they can assume an interest rate and calculate your balances based on the reported interest). They will know if you own or rent where you live, as well as several other details based on the deductions you claim.

Your tax return contains a frightening amount of information about you and while mailing your return is 99.999% safe, why take the risk when you can e-file and get all the other benefits? E-filing is smart on a number of levels and with the scary statistics involving identity theft, you might as well reduce your risk when it’s as simple as this.

(Photo: davidreber)

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