A recent flurry of calls that indicate you’ve been “pre-approved for benefits” is another fraud attempt to get your personal information.

If you receive these calls asking to verify your full name and date of birth, immediately hang up the phone.

These scammers are trying to build a data profile on you so they can apply for credit cards or services in your name. Once they fill in all the blanks, they can run up huge amounts of debt in your name.

Never share your personal information over the phone. Anytime you receive an unexpected call, ask the caller to provide a call back number. If they hesitate, it’s likely they are not reputable. Hang up, then call back at a phone number you know to be legitimate.

Taxable Income – An Inflation Response

In case you missed it, inflation has bumped up prices for food, energy, and fuel. For the 2023 Tax Filing Season, the Internal Revenue Service has made some inflation adjustments that can help.

Here’s Some That Will Affect You:

What’s Changed
Federal income tax thresholds have increased by roughly 7% by bracket.

How Does It Affect Me
These increases will allow many to stay in a lower tax bracket.

What’s Changed
Standard deductions have increased across all filing statuses.

How Does It Affect Me
– Single and Married Filing Separately: The standard deduction will increase by $900. ($13,850)
– Married Couples Filing Jointly: The standard deduction will increase by $1,800. ($27,700)
– Head of Household/Ages 65 and Up: The standard deduction will increase by $1,500. ($20,800)

Example

In 2023, a married couple filing jointly could make a maximum of $89,450 to remain in the 12% bracket, compared to $83,550 in tax year 2022.

Bottom-line:

These increases and additional credits will allow taxpayers to reduce their taxable income and keep more income in their pockets.

See all Tax Bracket Adjustments and changes at irs.gov/newsroom

Protect Your Identity in an Online World

Consumer behaviors are changing – Online commerce is up nearly 43%.

With the increasing opportunities to spend online, the possibilities for identify theft and account fraud grow.

Here Are Five Tips to Help Keep Fraudsters at Bay:

1. Don’t open or respond to unsolicited emails or texts from unknown contacts
2. Never sign into an account using a link in an email or text
3. Never provide passwords, PIN numbers, account numbers, etc., over the phone or via text or email
4. Only browse secure online websites
5. Use strong passwords and change regularly