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Expert Contribution

Identity Theft Alert

Newtown Square Friends & Neighbors, September 2022

Most people have heard of high profile cyberattacks or the hacking of companies and individuals in the news. Unfortunately it can and does happen to just about anyone. 

It is vital to be able to recognize the common signs to look for in these types of situations, particularly where IRS notifications are concerned. IRS publications and updates list several tell-tale signs of identity theft to watch out for. 

The IRS warns that if you experience any of the following situations, you may be a victim of identity theft:

  • You receive a text, call or email notice about a return you didn’t file
  • An online account was created in your name that you’re unaware of
  • You receive tax transcripts you did not request
  • The IRS sends records indicating earned wages from an employer you don’t know

The IRS wants to make clear that it primarily communicates with taxpayers through letters and mailed notices. RARELY does the IRS call a taxpayer directly, and they NEVER communicate through text messages.

Taxpayers who have fallen victim to a scam or otherwise had their identity stolen can file an Identity Theft Affidavit with the IRS or speak with the Fraud Resolution Department, who can assist in identity recovery, by calling 800-908-4490. Prompt communication with the IRS is pivotal in identity theft cases.

According to a study by Verizon, more than a third of all data breaches in 2021 involved ‘Social Engineering’ which involves digital con-artists. They seek to obtain sensitive information from people through impersonating someone official, hoping to convince an individual to reveal personal data. If successful, the hacker can access bank and investment accounts to drain funds. They could use your identification details to open credit cards and write phony checks, which could ultimately be billed to you. These traps are referred to as ‘phishing’ scams.

Some common indicators of phishing scams are as follows:

  • Unexpected and untimely email, phone call or text message
  • May include a fake invoice from a company you are currently or have done business with
  • Attention-grabbing emails claiming that you’ve won a prize or are being charged with a crime
  • Requests to provide private information

It’s important to visually check the sender’s email address to be sure it’s correct and free from spelling errors. Hackers craft email addresses that look very similar to a familiar address. Consider calling or texting the sender to verify if the communication is legitimate. Delete suspicious emails immediately and never reveal personal information to unknown parties. If you are unsure if an email or text message is legitimate, treat it as a fake. The damage identity theft and data breaches can do to individuals and companies can be catastrophic and result in bankruptcy or costly lawsuits.


About The Author

Accounting & Tax Preparation
Jack Del Pizzo
Del Pizzo & Associates
610-356-2590

Jack Del Pizzo is a Certified Public Accountant with an undergraduate degree from St. Joseph’s University and an MBA from Drexel University. He is the founder of Del Pizzo & Associates, which specializes in providing personalized accounting, business advisory, tax planning and tax compliance services for entrepreneurs with special emphasis on the effective use of S corporations, limited partnership, limited liability companies and trusts to reduce a clients’ income and estate tax burdens and to create wealth. Jack and his team of caring professionals have over 100 years of combined experience serving as trusted advisors to clients in a wide range of industries. Jack’s community activities include serving as a Chairman of the Board of the Community Y of Eastern Delaware County in Upper Darby, PA, President of Llanerch Country Club in Havertown, PA, and Treasurer of the Ardmore Rotary Club.

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