The end of the year is fast approaching, and businesses around the nation are hard at work preparing to deliver all of the necessary tax-filing documents to their customers. It’s no wonder that we’ve seen a big jump at Prove in questions about TIN Matching fraud, an especially devastating form of fraud that affects both businesses and private citizens during tax season.
I caught up with Prove Senior Director Yuka Yoneda to help answer your most pressing questions related to TIN matching fraud and discuss the best ways for businesses to prevent fraudsters from further complicating tax season. Read the synopsis below for key points, or watch our full conversation in the video above.
To keep track of the millions of people filing taxes every year, the IRS instituted a number system. While many people use their Social Security Number as a TIN (short for Taxpayer Identification Number), there are plenty of other options as well. Alternative TINs include:
Simply put, the IRS offers a service called TIN matching that assists the payer in determining if the payee TIN/name combination contained on their Form W-9 matches the TIN/name combination contained in the IRS tax filing records. If the provided TIN does not match with the correct name, this will cause problems with the IRS during tax season.
Watch our full conversation in the video above to learn more about how you can prevent TIN Fraud from ruining your tax season.
To learn about Prove’s identity solutions and how to accelerate revenue while mitigating fraud, schedule a demo today.
Trusted by 1,000+ leading companies to reduce fraud and improve consumer experiences. Contact us today to learn how you can frictionlessly secure your digital consumer journey — from onboarding to ongoing transactions.
Tap the button below to read our latest white-paper on the subject as industry leaders.
Contact us to learn how leading companies are using Prove Pre-Fill to modernize the account creation process by shaving off clicks and keystrokes that kill conversion.
Get in touch to find out how we can help you identify your customers at every stage of their journey and offer them seamless and secure experiences.
Let our expert team guide you through our identity verification and authentication solutions. Select a date and time that works for you.
Find out how we can help you deliver seamless and secure customer experiences that comply with PSD2/SCA. Select a date and time that works for you.
Download Aite-Novarica Group’s full report about Prove Pre-Fill, including a product overview, customer results, and how the product works.
Download the guide now to learn how you can improve security, cut down on fraud, and create the best possible customer experience.