Featured Image Nearly all tax fraud begins with identity theft. Once identity thieves have obtained your personal information, they complete a tax return in your name and social security number with false W-2 statements. They request that the tax refund be deposited into their bank account, not yours.The Internal Revenue Service (IRS) is taking new precautions to prevent, detect, and resolve identity theft and tax refund fraud. You can protect yourself from becoming a victim by minimizing your risk of identity theft and watching out for the signs of suspicious activity before it's too late.Be on the lookout for identity theft if you receive a notice from the IRS or tax professional that tells you:More than one tax return was filedYour benefits were reduced or cancelled because the IRS received information reporting an income changeYou have a balance due, refund offset, or have had collection actions taken for a year you did not file a tax returnRecords indicate you received more wages than you earnedIf you believe you are a victim of identity theft and tax return fraud:Report the incident to the IRS by calling the number on the notice you received. If you did not receive a notice, contact the IRS Identity Protection Specialized Unit at 800-908-4490.Contact the fraud departments of the credit bureausClose any accounts that you believe have been compromisedFor more information on taxpayer identity theft, please visit IRS.gov. Quickly report lost or stolen Virginia Credit Union account information or call us at 804-323-6800 if you have questions or we can help you in any way. Report Lost or Stolen VACU Information
Identity Protection You can make it much harder for a thief to steal your personal information. These simple tips may help you minimize your risk.
Check Scam Tips If someone you don’t know wants to pay you by check or money order and wants you to wire a portion of the money back, beware! It’s a scam that could cost you thousands of dollars.