A story on tax scams and fraud prevention quotes Lee Knight, Hylton professor of accountancy at the School. Knight offers advice for consumers to protect themselves, saying:
“The number one cause of tax fraud is identity theft, which occurs when someone uses a taxpayer’s personal information – name, address, social security number, and other identifying information – to file a phony tax return for a refund.”
Knight suggests consumers:
- Protect personal information.
- Check bank statements and credit reports for inaccuracies.
- Check the credentials of your tax preparer.
- Do not sign your tax return without reviewing it.
Read the full story at WalletHub.