How much of a risk is doing taxes and banking online?

0
0
Marked as spam
Posted by Del Dinkins (MONEY FORUMS: 7, Answers: 0)
Asked on May 12, 2016 11:41 pm
59 views
0
Private answer

Think about it like this: if it were risky, it wouldn’t be the norm.

Marked as spam
Posted by Will Lipovsky (MONEY FORUMS: 0, Answers: 37)
Answered: May 30, 2016 2:55 pm
0
Private answer

Hi Del! Thanks for writing. My answer is more an opinion than a fact, but I will offer it! When I evaluate risk, I ask “What’s the worst that can happen?” In the case of doing taxes and banking online, the worst outcome would be that your identity is stolen because the bank or the IRS are hacked. A second problem is not being able to get to your info and accounts if the internet is down. I can’t think of any other risks from online taxes or banking that you don’t encounter in non-online taxes and banking (those risks being errors, inaccuracies at bank or IRS, or losing documentation). An internet outage can be mitigated by your having previously printed out at least one bank statement and your yearly tax return. An identity hack at a company you use can’t really be prevented by you, and you can certainly be hacked in many ways (school, medical, local/state govt., work, clearances, etc.) – the most you can do and should always do is to be vigilant about checking accounts, credit scores, etc.
It seems as if online taxes and banking are becoming so accepted and common that it is hard to stand against those online methods and not use them. Although I am personally uncomfortable with mobile banking on my phone because I am more likely to lose my phone than my computer, in my case I do taxes online and bank online.
This morning I was reading articles about artificial intelligence (AI), which scares me much more than online banking…it’s an brave new world! Best wishes to you and please write back if we can offer more help.

Marked as spam
Posted by Kathryn Hauer (MONEY FORUMS: 0, Answers: 18)
Answered: May 23, 2016 5:12 am