Dependent Tax Account Monitoring | Dependent IRS Transcript Monitoring

Dependent Tax Account Monitoring | Dependent IRS Transcript Monitoring | Dependent Tax ID Theft Protection

Dependent Tax Identity Theft is a Growing Problem

Child identity theft has increased dramatically. According to a Carnegie Mellon University’s CyLab study, children are 51 times more likely to be a victim of identity theft than adults. Additionally, the toll on these families is estimated to be about $540 million in out-of-pocket expenses.

Parents need to be diligent about how and where they share their child’s personal information. For example, submitting social security numbers on school forms and athletic registrations are all areas of vulnerability. Children’s personal information is sold on the Dark Web for $300 a record.

Here are just a few ways criminals can use children’s social security numbers:

Apply for government benefits
Open bank and credit card accounts
Apply for a loan or utility service, including a cell phone account
Claiming a child as a dependent on a tax return as a dependent deduction or child tax credit

A Child’s identity theft can go unchecked and unnoticed for years, only to be discovered when your child starts to apply for loans or credit cards. The toll could be devastating, with years and years of defaulted accounts.

With DependentWatch, Audit Alarm makes it easy to ensure your dependent deduction(s) and credit(s) are protected.
With an adult membership, you can select DependentWatch as an additional service. For organizations that offer Audit Alarm Tax-Related Identity Theft protection as a benefit to their employees, DependentWatch is included.

How DependentWatch works to protect your children.

In the event of activity on your child’s tax account, your child’s alerts and messages are sent directly to your own Audit Alarm Tax Account Monitoring account so that you can view all alerts in one place. By protecting yourself and your family, you’ll get the peace of mind you need for your entire family

DependentWatch includes: