March 10, 2025
Protect Your Business From Cyber Threats This Tax Season
As tax season approaches, businesses are laser-focused on preparing financial documents, filing returns, and meeting tight deadlines. Unfortunately, cybercriminals see this busy period as the perfect opportunity to strike when employees are distracted and security vulnerabilities are more likely to be overlooked.
Hackers are constantly looking for ways to exploit sensitive data, scam businesses, and cause chaos. In today's blog, we'll uncover why tax season is a prime time for cyber-criminals—and, more importantly, how you can safeguard your business against these threats.
Why Tax Season Attracts Cyber-criminals
1. Increased Exchange of Sensitive Data
Tax season involves sharing confidential financial and personal information within your organization and with external partners such as accountants and payroll providers. This creates multiple points of vulnerability, making it easier for cyber-criminals to intercept or manipulate data—especially through phishing emails.
2. Tight Deadlines Lead to Costly Mistakes
Under pressure to meet tax deadlines, employees may not be as vigilant when reviewing emails, links, or file attachments. This lapse in attention provides an opening for phishing scams and malware to slip through unnoticed.
3. High Volume of Emails Increases Risk
During tax season, businesses experience a surge in emails related to tax forms, payment requests, and compliance updates. Cybercriminals take advantage of this flood of communication by crafting realistic phishing emails that can trick even the most cautious employees.
4. Scammers Impersonate Trusted Authorities
Hackers often pose as the IRS, tax preparation services, or even internal finance team members to manipulate businesses into sharing sensitive information or making fraudulent payments.
Top Cyber Threats During Tax Season
Be on the lookout for these common tax-season scams:
Phishing Emails: Fraudulent messages impersonating the IRS, bookkeepers, or tax professionals, designed to steal login credentials or financial data.
Fake Invoices & Payment Requests: Scammers send invoices for fake services or demand urgent payments to trick businesses into wiring money.
Ransomware Attacks: Hackers encrypt critical financial data and demand a ransom for its release.
Social Engineering Scams: Cyber-criminals use phone calls or emails to pose as accountants, payroll providers, or other trusted contacts to extract confidential information.
How to Protect Your Business This Tax Season
1. Educate Your Employees
Your first line of defense is a well-trained team. Ensure employees know how to spot cyber threats by teaching them to:
Verify email senders before opening attachments or clicking links.
Be cautious of urgent payment requests or unexpected account updates.
Report suspicious emails immediately to your IT team.
2. Secure Your Communications
Always use encrypted channels when sharing sensitive tax documents. Secure portals or file-sharing tools are much safer than email for transmitting financial data.
3. Implement Multi-Factor Authentication (MFA)
MFA adds an extra layer of protection to financial systems, email accounts, and tax-related platforms. Even if login credentials are compromised, MFA can prevent unauthorized access.
Pro Tip: If MFA is available on any of your accounts, enable it today. It could be the one step that saves your business from a cyberattack.
4. Conduct a Cybersecurity Audit
An in-depth security audit can help you identify vulnerabilities before hackers do. Work with your IT provider to:
Update software and apply security patches.
Secure network endpoints and employee devices.
Ensure your data backups are protected and easily restorable.
5. Verify All Financial Requests
Before approving any financial transaction, especially large payments, confirm requests using a second method of communication, such as a phone call or direct message.
Don't Let Cyber criminals Take Advantage This Tax Season
Tax time shouldn't mean open season for hackers. By staying vigilant, educating your team, and implementing proactive cybersecurity measures, you can safeguard your business from costly cyberattacks.
Let's make sure the only thing you file this season is a successful tax return—not a cybersecurity incident report.
Take the first step toward securing your business with a FREE Network Assessment to uncover vulnerabilities and strengthen your defenses.
Click here to schedule your FREE Network Assessment now!