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January 21, 2020

File Your Taxes Before Scammers Do It For You

By Krebs on Security

This Feb. 13, 2019, photo shows multiple forms printed from the Internal Revenue Service web page that are used for 2018 U.S. federal tax returns in Zelienople, Pa. The head of the IRS, overseeing the most sweeping overhaul of the U.S. tax codes in three decades, says the average refund in this year’s tax-filing season, $2,833, worked out to be close to last year’s. Internal Revenue Service Commissioner Charles Rettig told Congress Wednesday that an increase is urgently needed in the agency’s budget to modernize antiquated computer systems and protect taxpayers’ data. (AP Photo/Keith Srakocic)

It’s that time of year, tax-filing season, also known as the season fraudsters start requesting phony tax refunds in the names of identity theft victims. Want to minimize the chances of getting hit by tax refund fraud this year? File your taxes before the bad guys can!

Tax refund fraud affects hundreds of thousands, if not millions, of U.S. citizens annually. Victims usually first learn of the crime after having their returns rejected because scammers beat them to it. Even those who are not required to file a return can be victims of refund fraud, as can those who are not actually due a refund from the IRS. Read the full Krebs on Security article here, and learn more about how fraudsters file phony tax refunds and what you can do to protect yourself.

Should you have any questions about your bank accounts and services, please contact a River City Bank customer service representative at (916) 567-2899.