Security Summit partners alert taxpayers about tax refund fraud to mark the 4th National Tax Security Awareness Week

• The Security Summit consists of members from the Internal Revenue Service (IRS), the US tax agencies and several tax communities.
• The IRS has urged individual and business taxpayers to be cautious while shopping online.

National Tax Security Awareness Week is all set to commence on December 2, 2019. The awareness week which will last till December 6, 2019, will be preceded by the Security Summit partners.

What does Security Summit consist of?

The Security Summit consists of members from the Internal Revenue Service (IRS), the US tax agencies and several tax communities such as tax preparation firms, software developers, payroll and tax financial product processors, tax professional organizations and financial institutions.

Overall, the Summit consists of a total membership from 42 state agencies and 20 industry offices apart from the IRS.

The highlight of 2019’s awareness week

With the holiday season and tax season approaching, the IRS has urged individual and business taxpayers to be cautious while shopping online.

The agency claims that identity-stealing thieves can shoplift users’ sensitive information and use them later for identity theft.

"While people are shopping online, identity thieves are trying to shoplift their sensitive information. As the holiday season and tax season approaches, everyone should remember to take basic steps to protect themselves," said Chuck Rettig, IRS Commissioner.

"The Security Summit has made progress in fighting back against tax-related identity theft, but we need people to watch out for common scams that can put their financial and tax data at risk."

Recommendations

The Security Summit member has issued a list of measures - that will be discussed in detail over a period of five days - to protect personal and financial information online. The list includes:

• Protect personal and financial information online.
• Learn to recognize phishing emails and phone scams.
• Create strong passwords to protect online accounts.
• Recognize clues of identity theft.
• Tax professionals should review their safeguards.

Conclusion

The security guidance the IRS will share during the National Tax Security Awareness Week is designed to help both taxpayers and tax pros to defend against attacks that involve tax-themed phishing emails.