10 ways to reduce your vulnerability on tax-related identity theft
Identity theft continues to be one of the major growing crimes in United States nowadays, and places a large burden on victims, businesses, non-profit organizations and government institutions, especially when filing tax returns to the Internal Revenue Service (IRS).
Tax-related identity theft happens when somebody uses your stolen Social Security number to file a tax return claiming a fraudulent refund.
Usually, an identity thief will use your SSN to file a false return early in the year. You may be unaware you are a victim until you try to file your taxes and learn one already has been filed using your SSN.
Identity theft is a top priority for the IRS. They have already taken aggressive action to protect taxpayers and aid victims, with more than thousands of employees assigned to work on identity theft related situations. They also train employees to recognize return fraud and to help victims when it happened.
Because of this, the IRS prevented $14.6 million suspicious returns, and protected more than $50 billion in fraudulent refunds from 2011 to November 2013.
Financial Review Corliss Group online magazine 10 ways to reduce your vulnerabilityon tax-related identity theft
On May 05 2015 at London, London, City of, United Kingdom 1 Views