Profect against identity theft with a paper shredder while doing your 2012 taxes

It’s almost time to file your taxes! In the United States, tax return season runs from January 1 – April 15 in 2013. Be prepared and protect your identity during this crucial time by shredding sensitive documents while filing your tax returns. Even if you believe your past paperwork is too old, outdated or insignificant, any personal information that ties back to your identity can be used by thieves. W2 forms, specific tax related forms such as 1040 or 1040A, and any other receipts, statements, and invoices have your personal information and should be eliminated after filing.

Your name, address, social security number and income numbers are plainly displayed and should only be viewed by authorized personnel, such as the IRS. Identity thieves know that this is a prime time to collect your information and up their efforts to rummage trash for old forms, receipts and invoices. This is the best time to shred all of your financial or personal information and prevent it from falling into the wrong hands.

You were probably saving your pay stubs, receipts and statements all year in preparation for your taxes. While you’re collecting the previous year’s paperwork, why not use the time to shred older papers and documents you may have stored away? You will likely bring up your storage of old documents, statements, invoices and forms from past filing seasons.

There are many benefits to shredding your old documents while doing your taxes:

• •  Save time as you sift through outdated documents and keep your important files up-to-date
• •  Free up current space and save storage space
• •  Easier organization and even easier to find what you need
• •  Unclutter cabinets for a head start on your spring cleaning 

The IRS suggests keeping documents that support your tax returns for at least three years in the event of an unexpected audit. However, if you’re absolutely sure the threat of an audit has passed, or you’re confident that you’ve done your taxes accurately and reported all income, keep a copy of that year’s tax return and shred everything you used to reference the return.

ATM receipts, credit card statements, business invoices, write-offs, paycheck stubs, bank statements, investment records, insurance policies and big purchase warranties can all be safely shredded after you no longer need the information for that year’s filing.

These days, you do not need paper versions of your receipts and forms. The IRS ...