The six most common identity theft risks at tax time

Posted: Friday, January 4, 2013 12:00 am | Updated: 3:00 am, Tue Jan 15, 2013.

(BPT) - Tax time is always tough. Whether you will owe or anticipate a refund, plan to do your own taxes or pay a professional to do them for you, preparing and filing your taxes can be a tedious task. It can also be a risky one: the information needed to prepare your taxes is a treasure trove for enterprising identity thieves.

The nonprofit Identity Theft Resource Center notes that for identity thieves, “tax time is a prime time of opportunity.” Forms such as W-2s and IRS tax forms usually include your Social Security number, name and address, and often, financial account information, the ITRC notes. Using that information, identity thieves can access your existing financial accounts, open new lines of credit and commit other acts of fraud.