Tax Insights

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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 Unit, toll-free at 1-800-908-4490 so they can take steps to further secure your tax account. The IPSU hours of Operation: Monday – Friday, 7 a.m. – 7 p.m. your local time (Alaska & Hawaii follow Pacific Time).

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You will also need to fill out Form 14039, the IRS Identity Theft Affidavit Form 14039. The IRS asks you to use a fillable form at IRS.gov and follow the instructions on the back of the form. The typical identity theft case can take about 120 days for the IRS to resolve, but in the meantime you should continue to file your tax returns and pay taxes.

Protect yourself from potential fraudulent tax return filings and contact the IRS. Consult your Henry + Horne tax professional with any questions.

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