In recent years the volume of identity theft incidents has grown at an alarming rate. In 2014, more than 9.9 million Americans fell victim to identity theft. Although often less talked about, tax-related identity theft crimes have risen drastically in … read more
An employee who worked in the IRS’s Taxpayer Advocate office in Birmingham, AL is facing multiple charges in an identity theft scheme. Four people were arrested and charged last month including Nakeisha Hall, 39, an IRS employee who worked in … read more
With the unfortunate uptick in data breaches and identity theft crimes over the past several years, many businesses and organizations have taken steps to prevent or at least mitigate the potential impact of identity theft. For example, you’ve probably received … read more
Recent years have brought a slew of high-profile data breaches of major organizations. Some of the largest breaches include Target, Anthem Health Care, Home Depot and most recently, Ashley Madison. Even the U.S. Government has not been immune, as the … read more
Following the Sarbanes Oxley Act more than a decade ago, security and fraud have been two of the cornerstone focuses of the accounting profession. Proper and secure system controls have become a necessity, not only for auditors and tax accountants, … read more
A recent report from the Government Accountability Office reported that while the IRS estimates it prevented $24.2 billion in fraudulent refunds in 2013, it actually paid out $5.8 billion in fraudulent refunds that it realized were fraudulent only after refunds … read more
The IRS announced that criminals used taxpayer-specific data acquired from non-IRS sources to gain unauthorized access to information on approximately 100,000 tax accounts through the IRS “Get Transcript” application. This data included Social Security information, date of birth and street … read more
If you’ve received a 5071C letter, the IRS needs more information to verify your identity in order to process your tax return accurately. The IRS will continue processing your tax return once your identity is verified. Follow the identity verification … read more
With tax season underway and scams running rampant, here are some tips to help you avoid becoming a victim of identity theft: The IRS does not initiate contact with taxpayers by email or social media tools to request personal or … read more
If you become a potential or actual victim of identity theft outside the tax system or believe you may be at risk due to a lost/stolen purse or wallet, questionable credit card activity or questionable activity on your credit report, … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
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