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Cybercriminals Love Tax Season – Here’s How To Protect Your Business

March 10, 2025

As tax season approaches, businesses are busy preparing financial documents, filing returns, and meeting tight deadlines. Unfortunately, this hectic time provides cybercriminals with an ideal opportunity to strike, as business owners and employees are often preoccupied.

Hackers are constantly looking for ways to exploit sensitive data, scam businesses, and create disruption. In this blog, we'll discuss why tax season gives cybercriminals an advantage and how you can stay ahead of them.

Why Tax Season Attracts Cybercriminals

1. Increased Exchange Of Sensitive Data

Tax season involves sharing sensitive financial and personal information, both within organizations and with external parties like accountants or payroll providers. This creates multiple vulnerabilities for hackers to exploit, particularly through phishing emails.

2. Tight Deadlines Lead To Mistakes

With the pressure of meeting deadlines, employees may overlook double-checking emails, links, or file attachments. This can make it easier for phishing scams and malware to infiltrate.

3. Higher Volume Of E-mails

During tax season, businesses deal with a surge of emails regarding forms, payment requests, and compliance updates. Cybercriminals take advantage of this by sending convincing phishing emails that appear legitimate, aiming to intercept sensitive data.

4. Widespread Scams Targeting Taxpayers

Hackers frequently impersonate trusted entities such as the IRS or tax preparation services to deceive businesses into sharing confidential information or making fraudulent payments.

Common Tax Season Threats You Need To Watch Out For

- Phishing E-mails: Fraudulent messages pretending to be from the IRS, your bookkeeper, or a tax service, asking for sensitive information or directing you to malicious links.

- Fake Invoices Or Payment Requests: Scammers send counterfeit invoices or payment demands to trick businesses into wiring money.

- Ransomware Attacks: Hackers may encrypt critical financial data and demand a ransom to release it.

- Social Engineering: Phone calls or emails impersonating accountants, payroll providers, or other trusted contacts to extract information.

How To Protect Your Business This Tax Season

1. Train Your Team

Educate employees about the latest scams and how to identify phishing attempts. Teach them to:

- Verify email senders before opening attachments or clicking links.

- Be cautious of urgent payment requests or unusual account updates.

- Report suspicious emails immediately.

2. Secure Your Communications

Ensure that all data exchanges are encrypted, particularly when sharing sensitive tax documents. Utilize secure portals or file-sharing tools instead of email whenever possible.

3. Implement Multifactor Authentication (MFA)

Require MFA for access to financial systems, email accounts, and any platforms used for tax-related activities. This adds an extra layer of security, even if credentials are compromised. It is crucial to set this feature up whenever it is available.

4. Conduct A Cybersecurity Audit

Collaborate with your IT provider to identify vulnerabilities in your systems before hackers can exploit them. Focus on:

- Updating software and applying patches.

- Securing network endpoints and devices.

- Verifying data backup integrity.

5. Verify All Financial Requests

Double-check payment requests, especially those involving large sums or sensitive accounts. Confirm via a secondary communication method (e.g., a phone call) to ensure authenticity.

Don't Let Hackers Score This Tax Season

Tax season doesn't have to be a hunting ground for hackers. By staying alert, educating your team, and implementing proactive cybersecurity measures, you can safeguard your business from becoming a victim.

Let's make sure the only thing you're filing this season is a successful tax return - not a cybersecurity incident report. Start with a FREE 15-Minute Discovery Call to uncover potential vulnerabilities and ensure your systems are ready to handle whatever comes your way.

Click here or give us a call at (541) 726-7775 to schedule your FREE 15-Minute Discovery Call now!