January 22, 2019

Greetings Thrifty Friends,

If you are getting a refund on your tax return it makes sense to file it as early as possible (especially since the partial government shutdown means the IRS will be moving even slower than usual), but there is another reason to file early - identity fraud.

Criminals filing fraudulent returns in other peoples' names and collecting the refunds is becoming a bigger problem.

Keep pinchin' those pennies,
Penny

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TODAY'S THRIFTY TIP:

File your tax return by February. Getting your taxes done early will get the task behind you, which could alleviate some stress, but it will also lessen your chances of having your refund stolen. With tax refund fraud, criminals submit a return in someone else's name before the actual individual does so, which means your goal should be to beat them to the punch. Starting the process early will also help you avoid the administrative and mathematical mistakes common among last-minute filers.