Breaking: How the Anthem data breach may have just gotten worse

Written by
Peter Dunn

If you are a current or former customer of Anthem, today has undoubtedly been stressful. If you haven't already, consider freezing your credit to prevent rampant identity theft. But this whole nightmare may have just gotten a lot worse.

Software-maker Intuit, maker of tax filing software TurboTax, has just announced that it is halting e-filing of state tax returns due to, you guessed it, rampant identity theft and fraud. You see, criminals are taking social security numbers, dates of birth, names, and addresses, and filing false state returns. Upon filing a false return on your behalf, criminals insert their bank information, and make-off with your tax refund.

So, if 80,000,000 people just had all of their social security numbers, dates of birth, names, and addresses stolen, then your credit isn't the only thing at risk. Freezing your credit will stop credit fraud, but if the government continues to accept e-filing from companies like TurboTax, then state tax revenue departments will collapse in the midst of fraud reports.

Minnesota has stopped accepting e-filed tax returns altogether. Look for many other states to do the same. You can't do anything about this particular issue, whether you happen to e-file or not. Because if a crook e-files before you get around to e-filing, then your tax return will be rejected.

I'll be discussing this very topic on The Willis Report on Fox Business, tonight at 5pm est.

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