What should I do if my W-2 was stolen?
Losing your W-2 form can be a distressing experience, especially since it contains sensitive financial information. If you suspect that your W-2 has been stolen, it’s crucial to take immediate action to protect yourself from potential identity theft and tax fraud. Here’s a step-by-step guide on what to do if your W-2 was stolen.
1. Contact the IRS
The first step you should take is to contact the Internal Revenue Service (IRS). You can do this by calling the IRS Identity Protection Specialized Unit at 1-800-908-4490. Be prepared to provide your personal information, including your Social Security number, date of birth, and any other relevant details.
2. File a police report
Next, file a police report with your local law enforcement agency. This report will serve as an official record of the theft and can be used to support your claim with the IRS and other financial institutions. Make sure to keep a copy of the police report for your records.
3. Place a fraud alert on your credit reports
To prevent identity thieves from opening new accounts in your name, place a fraud alert on your credit reports. You can do this by contacting one of the three major credit bureaus: Equifax (1-800-525-6285), Experian (1-888-397-3742), or TransUnion (1-800-680-7289). By placing a fraud alert, you’ll receive a notice if anyone tries to access your credit report.
4. Monitor your financial accounts
Keep a close eye on your bank and credit card accounts for any suspicious activity. If you notice any unauthorized transactions, report them to your financial institution immediately. This will help you detect and address any potential identity theft early on.
5. Update your passwords and security questions
Change the passwords and security questions for your financial accounts, including your tax filing account. This will help prevent unauthorized access to your information.
6. Stay informed about tax fraud
Keep yourself updated on the latest tax fraud schemes and scams. The IRS provides valuable resources and information on its website to help taxpayers stay informed and protect themselves from identity theft.
7. File your taxes as usual
Even if your W-2 was stolen, you should still file your taxes as usual. The IRS will notify you if there are any issues with your return due to the missing W-2. In the meantime, you can use Form 4852, Substitute for Form W-2, to file your taxes.
Remember, it’s essential to act quickly and follow these steps if your W-2 is stolen. By taking these precautions, you can minimize the risk of identity theft and ensure that your tax return is processed smoothly.
