IRS lays out steps to protect against identity theft

It’s no secret identity theft is a major problem. And if you fall victim, a major headache. It would be great if identity thieves steal your tax information to pay your tax bill, but no. They’re stealing your refunds. Here are some steps to protect against identity theft the IRS suggests to keep your identity …

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How to use the IRS’s Identity Verification Service

In an effort to tamp down on fraud, the Internal Revenue Service has repeatedly reminded Americans it will never contact taxpayers by telephone. When the IRS needs to talk to you, it will send you a letter, directing you to call a telephone number or log in online. Now, the agency has gone a step …

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Tax information leak leads to possible federal investigation

On June 8th, an article was released by news organization ProPublica, claiming to have obtained over 15 years worth of confidential IRS information on the United States wealthiest billionaires. ProPublica stated they obtained the tax information leak from an anonymous source, and have not commented on when the data was obtained. In addition to outcry …

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Identity theft and form 1099-G

During COVID, millions of Americans lost their job or worked fewer hours, prompting many to apply for unemployment benefits. During tax season, people received form 1099-G from their respective states presenting the amount of unemployment benefits they received in 2020. Some people received a 1099-G, but had not applied or received unemployment benefits. The IRS …

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New law bans anonymous shell companies

Part of the newly passed National Defense Authorization Act, known as the Corporate Transparency Act, includes a ban on anonymous shell companies in the United States. Historically, the U.S. has been one of the top countries for criminals seeking financial secrecy and hiding large amounts of money. This new law attempts to close loopholes and …

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Tax preparation, security and the IRS

I received an email from the Internal Revenue Service – no, really, it is legitimate. It wasn’t a scam trying to get my personal information – I have actually signed up for these emails directly on IRS.gov.  There is this page where you can subscribe to emails – turns out that some of them are …

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IRS transcripts masked for identity protection

Identity theft has long been a serious issue for taxpayers in the United States, with thousands of taxpayers each year having their personal information fall into the wrong hands. Fortunately the IRS has taken yet another step to combat this growing trend – since December 13, sensitive information has been masked on taxpayer transcripts. Don’t …

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COVID scammers texting promises of additional stimulus payments

We all know the saying about “death and taxes”, but sometimes it seems like scams should be added to that list. Every year, and probably even more frequently than that, scammers are coming up with clever new ways to trick taxpayers out of their personal information, money or both. In a year like 2020, the …

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Stolen wallet? Now what?

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 or stolen purse or wallet, questionable credit card activity or questionable activity on your credit report, etc., the IRS encourages you to contact them at the Identity Protection Specialized …

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