Is turbotax identity theft protection worth it?

Is TurboTax Identity Theft Protection Worth It?

As the world becomes increasingly digital, identity theft has become a growing concern for individuals and businesses alike. With the rise of online tax filing, TurboTax has taken steps to offer identity theft protection to its customers. But is this service worth the extra cost? In this article, we’ll delve into the details of TurboTax’s identity theft protection and help you decide whether it’s a worthwhile investment.

What is TurboTax Identity Theft Protection?

TurboTax’s identity theft protection is a service that monitors your personal and financial information to detect and prevent identity theft. The service is designed to provide an additional layer of security for your sensitive information, including your Social Security number, credit card numbers, and other personal data.

How Does TurboTax Identity Theft Protection Work?

TurboTax’s identity theft protection works in several ways:

• Monitoring: TurboTax continuously monitors your personal and financial information for suspicious activity, such as unauthorized transactions or new accounts opened in your name.
• Alerts: If suspicious activity is detected, TurboTax will send you alerts to notify you of potential identity theft.
• Resolution: If you do fall victim to identity theft, TurboTax’s resolution team will work with you to resolve the issue and restore your identity.

What is Included in TurboTax’s Identity Theft Protection?

TurboTax’s identity theft protection includes the following features:

• Monitoring: Continuous monitoring of your personal and financial information for suspicious activity.
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• Alerts: Real-time alerts sent to your email or mobile device if suspicious activity is detected.
• Resolution: Assistance from TurboTax’s resolution team to resolve identity theft issues.
• Identity Restoration: TurboTax will work with you to restore your identity and prevent further fraud.
• Credit Monitoring: Monitoring of your credit reports to detect potential identity theft.

Cost of TurboTax Identity Theft Protection

TurboTax’s identity theft protection is included in their Deluxe and Premier tax filing packages, which start at $89.99 and $119.99, respectively. This means that if you file your taxes with TurboTax, you’ll automatically receive identity theft protection at no additional cost.

Alternatives to TurboTax Identity Theft Protection

If you’re not planning to file your taxes with TurboTax, there are other identity theft protection services available. Some popular alternatives include:

• LifeLock: A comprehensive identity theft protection service that offers monitoring, alerts, and resolution services.
• IdentityForce: A robust identity theft protection service that offers monitoring, alerts, and resolution services, as well as credit monitoring.
• Credit Karma: A free credit monitoring service that also offers identity theft protection.

Pros and Cons of TurboTax Identity Theft Protection

Here are some pros and cons to consider:

Pros:

• Convenience: TurboTax’s identity theft protection is included in their tax filing packages, making it easy to get started.
• Comprehensive monitoring: TurboTax’s monitoring service covers a wide range of personal and financial information.
• Resolution assistance: TurboTax’s resolution team is available to help you resolve identity theft issues.

Cons:

• Limited coverage: TurboTax’s identity theft protection only covers personal and financial information, not credit information.
• Cost: If you’re not planning to file your taxes with TurboTax, the cost of their identity theft protection may not be justified.
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• Limited customization: TurboTax’s identity theft protection service is not customizable, so you may not be able to tailor it to your specific needs.

Conclusion

TurboTax’s identity theft protection is a valuable service that can provide an additional layer of security for your personal and financial information. While it may not be the most comprehensive identity theft protection service available, it is a convenient and affordable option for those who file their taxes with TurboTax.

Recommendation

If you’re planning to file your taxes with TurboTax, we recommend opting for their Deluxe or Premier package, which includes identity theft protection. However, if you’re not planning to file your taxes with TurboTax, you may want to consider alternative identity theft protection services that offer more comprehensive coverage and customization options.

Comparison Table

Final Thoughts

In conclusion, TurboTax’s identity theft protection is a valuable service that can provide an additional layer of security for your personal and financial information. While it may not be the most comprehensive identity theft protection service available, it is a convenient and affordable option for those who file their taxes with TurboTax. By understanding the pros and cons of TurboTax’s identity theft protection, you can make an informed decision about whether it’s worth the cost.