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4 Ways The IRS Is Working Hard To Protect You From ID Theft.

4 Ways The IRS Is Working Hard To Protect You From ID Theft.

How the IRS Works to Prevent Fraud and Identity Theft
Aside from handling the nation’s taxes every year, the IRS also works very hard to ensure to reduce the levels of fraud and identity theft in the country. This is very important, because anyone is susceptible to the impact of identity theft. Someone could get a hold of your social security number and use it to open a credit card. Here are six ways the IRS works to prevent and prosecute identity theft.
Helping Victims:
The IRS plays a key role in helping identity theft victims. They are often the first agency to contact someone regarding an identity theft issue. There is a dedicated team at the IRS that handles identity theft cases, with most situations resolved within 120 days.
IP Pins:
These are given to individuals who are past victims of identity theft. Along with their social security number, individuals enter this PIN when filing their tax returns. This helps the IRS know they are the sole individual filing this return, and that no one has misused their information to file a false return.
Fraud Prevention:
Small businesses receive a lot of help from the IRS with regards to preventing fraud or identity theft. The IRS offers password codes for small businesses to authenticate their identity during the filing process. They are also developing other features, such as security questions, to further increase the security for businesses and individuals in the future.
State-Specific Measures:
Some states require individuals or businesses to present their identification information when filing a tax return. This is very important, because it ensures that no one falsely files and claims a tax return on your behalf.
Filing Filters:
The IRS has a number of filters in place that are put into play before any returns are sent. These filters are responsible for detecting and preventing the vast majority of attempts at identity theft and filing false tax returns. They also share their information and methods with other agencies to help everyone in the fight against identity theft.
Criminal Investigations:
Records show that around 800 criminal investigations took place in 2015 regarding identity theft. All but two individuals responsible for the identity theft were convicted and sentences, with their jail time averaging at around 40 months. Even if someone is the victim of identity theft, the IRS does everything in their power to ensure the process is as painless as possible. And there are always severe consequences for the individual responsible.