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Tax Refund Identity Theft - What You Need to Know & How We Can Help

Tax Refund Identity Theft - What You Need to Know & How We Can Help

Our technologically advanced world has brought many benefits to our day-to-day lives including online bill pay, faster banking, and a world where we can do virtually everything over the internet or phone. But all of these benefits are not without their own headaches. Identity theft has been a rising problem for more than 10 years. According to the 2012 report from Javelin Strategy, it is estimated that one out of every 20 Americans can become a victim of identity theft.

Identity theft can come in many forms including medical history fraud and tax refund fraud. In fact, at the start of 2015, the leading tax refund company – Intuit – was forced to halt e-filing due to an increase in fraudulent tax return attempts. According to the IRS, this is considered a big-money crime. In fact, the Internal Revenue Service managed to stop 19 million fraudulent refunds with an estimated total of $63-billion, in 2015 alone.

Individuals and businesses alike must be proactive if they wish to avoid tax refund identity theft. The simple truth is that no one is 100% safe. The IRS recommends that you file your tax return as early as possible as scammers are more likely to take advantage of those who have not filed by the end of February. When working with a tax professional, be sure to watch out for any discrepancies between the IRS records of your income and how much wages you have actually earned. It also never hurts to double check your tax paperwork. If you feel that your refund is less than it should be or receive notice that you actually owe the IRS when you should receive a return, then you may have become victim of tax refund fraud.

In your everyday life, you can help minimize the risk of attack by limiting the amount of information that is shared through social networks; using a secure password keeper for all usernames and passwords on your mobile device, tablet, or laptop; and by being conscious of where you swipe your credit or debit card. Although we have seen a decline in credit card skimming, the wealth of payment portals, like Stripe, Square, and PayPal, which are used by small business owners all create the ability for scammers to swipe your card information without you even realizing it.

If you believe you may be a victim of tax refund identity theft, or have questions about whether or not your personal or business finances are vulnerable, contact Attorneys Tax Relief today. Over the last few years the IRS has made steps to offer victim support and pursue legal action against those who steal the identities of others. Handling this issue requires the true professional touch of someone who knows and understands how to work with the IRS to help dispute any fraudulent tax refunds and get you on the path to retribution.

Our team is experienced in all aspects of tax refund identity theft.