Burr Alert: Filer Beware - The Growth Of Fraudulent Tax Returns

more+
less-
more+
less-

The filing of fraudulent tax returns resulting from identity theft is a growing business in America. If it wasn't bad enough that the criminals would try to get money out of your bank or use the information to purchase goods on your account, they now want your tax refund! Treasury tells us that for the 2011 filing season, there were approximately 109 million returns filed claiming refunds and that of those approximately 1.5 million were filed under a stolen identity. The total amount of claimed refunds under those identity theft returns is estimated at over $5.2 billion. While historically a problem with individual income tax returns, the incidence of stolen identity business and charity returns is also on the rise. In addition to simply feeling violated, affected taxpayers then have the joy of working with the IRS to correct the problem and having to spend many hours to eventually receive the refund to which they were entitled.

So, what can we all do to avoid the problem? Several ideas:

The IRS isn't going to send you an email. Do NOT answer any emails that say they're from the IRS. Trust me, the chances that the IRS will send you (and I don't care who you are) an email is somewhere between slim and non-existent. If you receive an email from the IRS and for some reason think it might be real (it isn't), then call the 800 number and follow up. The email is a scam looking for information...

Please see full Alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

IRS
Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Burr & Forman | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×