TransUnion Provides Tips for Minimizing Exposure to Tax Fraud and Using Refunds to Mend Credit Health
CHICAGO, IL--(Marketwired - Apr 10, 2014) - While the days leading up to the April 15 tax filing deadline can be unnerving for millions of Americans, TransUnion encourages consumers to start early to minimize stress, file safely to minimize exposure to tax fraud, and to put their tax refund, if expecting one, to good use by paying down existing debt to help their credit health.
According to a Google Consumer Survey conducted by TransUnion, almost half (48.6 percent) of Americans surveyed said they anticipate receiving a tax refund this year. Of those, almost half (48.3 percent) said they plan to save the refund, a third (32.2 percent) said they plan to pay down existing debt, and about one in five (16.8 percent) said they plan to treat themselves and spend it.
"Whether consumers expect to receive a refund or anticipate having a tax bill to pay, it is important to correctly make a plan now and be prepared. An important step is to obtain and review their credit report," said Julie Springer, vice president at TransUnion. "If they anticipate a refund, consumers should consider making a plan to use their refund to pay down debts, especially those with high balances or high interest rates. If they will receive a tax bill, they should plan ahead so that you can pay the bill on time, as well as meet their other monthly obligations."
To help consumers plan for tax season, TransUnion offers the following tips for how best to best prepare, use their tax refund or pay their bill.
If you receive a notice from IRS, respond immediately. If you believe someone may have used your Social Security number fraudulently, notify IRS immediately. You will need to fill out the IRS Identity Theft Affidavit, Form 14039.
About TransUnion
TransUnion Interactive, Inc. is a consumer subsidiary of TransUnion. As a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs associates in more than 33 countries on five continents. www.transunion.com. Follow us on Facebook at http://www.facebook.com/TransUnion.
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