Glassman Wealth Services

Glassman Wealth is a full-service, fee-only fiduciary providing highly personalized investment advice, financial planning, and wealth management. With one of the lowest client-to-advisor ratios in the industry, Glassman Wealth’s team of engaged, innovative advisors has the time to focus on each client’s unique needs and goals and dreams. This personalized and sophisticated approach enables Glassman Wealth to serve each client as their dedicated financial steward, helping them not simply to achieve their financial goals, but to realize their dreams.

What Is Tax-Related Identity Theft?

Tax-related identity theft occurs when someone uses your personal information such as your Social Security number to file early in the tax season in the hopes of receiving a fraudulent refund.

Often times, you will be unaware this has occurred until you file your tax return. The IRS will alert you of identity theft by sending you a letter or notifying your accountant.

The IRS can be tipped off to identity theft if:

  • More than one tax return was filed under your Social Security number
  • You owe money for a year you did not need to file a tax return
  • IRS records indicate you received more wages than you actually earned

What to Do About Tax-Related Identity Theft

If you receive a letter from the IRS regarding potential identity theft, immediately call the number on the IRS letter. As a reminder, the IRS will never contact you about your personal or financial information by email, text messages, or through social media.

If think you are a victim of identity theft but have not received a letter from the IRS, contact the IRS Identity Protection Specialized Unit at 800-908-4490.

Outside of contacting the IRS, you should:

  1. Notify your financial planner and accountant. Your accountant will need to fill out the IRS Identity Theft Affidavit, Form 14309.
  2. Contact each of the three major credit bureaus to place a fraud alert on your record.
  3. Enroll in an identity protection program such as Identity Guard.
  4. File a police report.

For more information about how to keep your personal information safe, click on this helpful IRS Guide.