With the IRS reporting over 5 million flagged tax returns in 2023 alone, Knull explains why traditional credit monitoring exclusively is insufficient in this high-risk environment. He outlines essential protective measures—such as enabling multifactor authentication, creating unique passwords, and filing tax returns early—to minimize the likelihood of fraud. Taxpayers will gain insight into actionable steps like requesting an IRS identity protection PIN and maintaining vigilant account monitoring to stay ahead of threats.
The conversation focuses on the imperative role of financial advisors in supporting clients’ financial security. Knull discusses the TaxStatus platform, which provides real-time IRS account monitoring, enabling advisors to detect and address potential fraud and unusual activity proactively. The episode wraps up with Knull’s emphasis on ongoing education and a proactive, layered approach to personal finance protection, encouraging individuals to seek fiduciary guidance to bolster their defenses against cyber threats. Learn more about Kevin Knull and TaxStatus at TaxStatus.com.
[Video 17:20]
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