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Don't Let the Equifax Breach Bite You at Tax Filing Time .. Protect Yourself

Get on your CPA's calendar NOW!

This is something that should be taken very seriously, especially if you are aware that you were on the hacked Equifax list. If you don't know, it's equally as imperative! 

 

Get on your CPA's CalendarI had a client who had his identity stolen and didn't know it until he was a few weeks from Closing on his new home. His tax information provided to the lender did not match what the IRS sent the lender as they were doing the underwriting of their mortgage loan. The stolen identity was discovered and it took SIX MONTHS of working with the IRS and the credit bureaus, to get everything worked out for these buyers. 

 

THANKFULLY we had a seller who was sympathetic to these buyers and allowed them to rent their home for the six months needed to get this cleared up. The lender said it was one of the most expedient of these stolen identity cases they'd seen get to the Closing table so, my buyers were 'fortunate' (if you want to call it that) with regards to the time factor involved.

 

So, please, please, get your tax appointment scheduled with your CPA as quickly as possible. W-2s are due by 1/31 so, if you spend the next couple of weeks putting everything else together, when the W-2s arrive, you should be able to get in with a CPA in early February. 

 

Thank you, Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi for your timely advice.  - Debe

 

 

 

 

Don't Let the Equifax Breach Bite You at

Tax Filing Time .. Protect Yourself

 

Things move quickly in this era of the internet and social media.  Yesterday's news is quickly erased from our memories and replaced with today's headlines ...

An example of this is last Fall's Equifax breach  (announced on September 7th, 2017).  This breach quickly fell off the news radar.  

That's not good because this devastating data compromise could now come back to bite the approximately 145 million Americans affected by the Equifax Breach. 

How and Why?

Social Security Numbers.  Social Security Numbers were part of the data put at risk by the breach.  

Those stolen Social Security Numbers can serve as fodder for crooks to file fraudulent tax returns and gain access to your tax refunds.  As we enter the 2017 tax filing season, you and other taxpayers need to be aware of this existing danger and take pro-active measures to protect yourselves. 

 

 

  • File your Return as early as possible 
  • Take steps to prepare yourself for a quick, but accurate filing
  • Start gathering documentation, receipts, and records from your employer (or 1099's), financial institutions, charitable donations, student loans, mortgage holder, property tax escrows, deductible expenses, etc. NOW  
  • Make yourself a list of ALL the items you will need to file your Tax Return  
  • Check the items off as you receive them
  • Monitor/Check websites of Credit Cards, financial institutions, etc. for online access to documentation needed  

 

By performing these pro-active measures, you prepare yourself to input the gathered info on your Return quickly and efficiently.  These actions will also benefit a tax consultant and minimize the time they need for filing your Return (should you seek the assistance of a paid professional tax advisor).

 

If you then wish to monitor the status of your filed Tax Return, you can download the IRS2Go.app.  
 
To do this you will need:
  • Your Social Security Number (or ITIN)
  • Your Filing Status
  • Your EXACT Refund Amount

But you must always remain aware:  No one can ever let their guard down ...

Even if you escaped the effects of the Fall 2017 Equifax Breach, it remains vitally important for you to continuously monitor all your accounts (including Student Loans, Utilities, Cell Services, Retirement Accounts, Investment Accounts, and Tax Returns/Refunds) on a consistent on-going basis. 

 
To accomplish this, I urge you to thoroughly review your FREE Credit Report (minimally, once a year) by going to  annualcreditreport.com.  If at any time you find you have been compromised, take action immediately.  Then go to IdentityTheft.gov or call 1-877-438-4338 and report the compromise.  
  
Continue to act pro-actively on your own behalf.  Stay vigilant regarding the safety and security of your finances, credit, and debt.
 
If you have questions regarding the above, feel free to reach out to me ... or seek the advice and services of your own professional tax advisor.   If you need a referral to a reliable New Lenox/Chicagoland-area tax advisor, please contact me.  I'd be happy to pass along the name/contact info of a reputable professional in your area.
 
 
* Hoping to Buy or Refinance a home in New Lenox, Will County, or elsewhere in the Chicagoland area?  Contact Me! I'll put my 40 years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:


Gene Mundt
Mortgage Originator - NMLS #216987 - IL Lic. #031.0006220 - WI License 216987
 
American Portfolio Mortgage Corp.
NMLS #175656
 
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 

  

 Twitter Account of Gene Mundt, Mortgage Lender   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest Acct. of Gene Mundt, Mortgage Lender   

   Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender  

    

 

Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

Email Me .. to be added to my Mortgage & Real Estate Newsletter

 

     

Charlotte Real Estate Team - The Maxwell House Group

 

  Charlotte NC Homes for Sale

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Charlotte CRS Agent


Debe Maxwell, Realtor®/Broker/CRS

CharlotteBroker@icloud.com

Direct:  (704) 491-3310

 

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Comment balloon 5 commentsDebe Maxwell, CRS • January 13 2018 06:05AM
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