I don’t know about your family, but we are swamped with mail on a daily basis. We receive catalogues, bills, local advertising mailers, college mailers, magazines and of course during January and February, tax documents.

If only cash flow could be like mail flow, wouldn’t it be great?

Tax season yields many opportunities for identity theft. Large amounts of confidential information are mailed at this time, all of which can leave you susceptible to crime. Income details from W-2’s and 1099s, bank account information, investment information and social security numbers are sent between employees, employers and the government during this time.

4.8% of Americans became victims of fraud during 2009 totaling over $54 billion in losses.

Be vigilant, monitor your mailbox, beware of scams and protect your tax documentation. Keep your tax forms and files together in a tax folder and keep it in a safe place. Don’t just throw away old records. SHRED! It’s best if you use a cross-cut shredder.

Watch for “phishing” e-mail scams. They may look like they are coming from a financial or government institution, such as the IRS but they are really scams to get access to your personal information.

If you choose to e-file your tax return, the IRS publishes a list of approved companies that offer e-file software. Also, make sure your spyware and anti-virus software are up to date and turned on before transmitting forms over the internet.

If you choose to use a third party filer for your taxes, find one who is well established and has a good reputation. In 2010, there were several complaints filed from people who lost money or identity information when going to a tax prep business.

So do you like that direct deposit feature for tax refunds? Make sure you double check and verify that bank routing number and bank account information before you e-mail or mail your forms. If you opt to get your refund through “snail” mail, pick up your mail as soon possible from your box. Having items mailed to a post office box or getting your mail picked up by a neighbor or friend is also an option.

As always, remember to keep copies of all returns and forms in a safe and secure place, preferably a safe or fireproof box.

If you suspect you are a victim of identity theft or fraud, contact the Federal Trade Commission at 1-877-IDTHEFT. The IRS provides an Identity Theft and Your Tax Records document which provides instructions for filing claims.

It’s never too soon to protect yourself from identity theft and although tax season lends more opportunities for theft to occur, you should be diligent in protecting your information year round.