What should I do if I find signs of fraudulent tax filings in my name? One red flag, security experts say, is a change in your direct-deposit account information. Says it is “aware that some customers have been the victims of identity theft, as a possible result of well-publicized data breaches.” It says it believes recent instances of fraud didn’t result from a breach of its systems, based on a preliminary exam conducted with the assistance of independent security experts.Īn Intuit spokeswoman advises concerned customers - both those who have and haven’t yet filed their returns - to log into their TurboTax accounts to ensure that the information is accurate. The incident raises many questions for taxpayers, including whether their personal data is at risk and whether it is safe to prepare or submit returns electronically.
The spate of fraudulent filings seems to have largely affected returns prepared using TurboTax, the states say. Last year, TurboTax products were used by 29 million customers, while H&R BlockĮach assisted with about seven million self-prepared returns. Is it safe to use TurboTax Online? Yes, TurboTax uses fraud prevention and other security measures to keep your personal information safe.In some cases, the fraudulent state and federal filings include data apparently taken from TurboTax clients’ 2013 tax returns, according to state tax officials and taxpayers. The software is also helpful for people who don't want to file their own taxes but would prefer a cheaper option than hiring a certified public accountant. Is it worth it to use TurboTax? TurboTax's services are worth considering if you're a small business owner or a contract worker, as they tend to have the most complex type of taxes. The software itself isn’t necessary to get the best refunds possible on your tax returns, as taxpayers are entitled to their refund amounts, but the company's software helps ensure you don't miss potential deductions. Does TurboTax get you the best refund? TurboTax promises to get customers the best refund possible in the shortest amount of time. If your taxes are more complicated, you need to purchase one of TurboTax's other plans. Is TurboTax Online free? TurboTax Online is free for simple tax returns like W-2 income, earned income tax credit and child tax credit.
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