Allstate Survey — Worries about Tax Return Scams

Allstate Property Protection just released the results of an interesting survey. It seems that 64% of us worry that a scammer of some sort will steal personal information like a Social Security number and file a tax return under that number and steal a potential refund.

Company spokeswoman, Caroline Slane said while this might sound far-fetched, the reality is that 40% of her company’s ID restoration cases were reported during tax season.

“Tax season is prime time for identity theft, with refunds on the line that are often worth thousands,” Slane said. “We help people take control before fraud happens and get their life back on track when it does.”

Here are the results of the survey:

• 20% of those surveyed are more worried about tax-related ID theft this year than in the past
• 44% say that concern is just as high as it has been in the past

Here’s what’s driving the worries:

• 43% say news about rising tax fraud has them concerned
• 42% worry about IRS staff shortages and delays
• 42% worry about fraud powered by AI

And when it comes to fraud verses other financial setbacks, Allstate’s survey found:

• 59% would rather lose their wallet with all their credit cards than be a victim of fraud
• 58% would rather have their phone hacked
• 58% would rather see their credit score drop 100 points at once
• 54% would rather unexpectedly lose their job
• 52% would rather have their bank account drained

Source link: PropertyCasualty360.com — https://bit.ly/3E1I9G1