Identity theft is a major tax scam
Tax Tip of the Week
May 13, 2013
Identity theft is a major tax scam
Have you gotten a tax bill you weren't expecting based on income you never received? Has your return been rejected, or your refund delayed? These unanticipated incidents can indicate your tax identity has been stolen.
Though it may be small consolation, you're not alone. Tax identity theft topped the IRS list of tax scams for 2013. Here's what you need to know if it happens to you.
- What to do. File Form 14039 with the IRS. The "Identity Theft Affidavit" starts the process of notifying the IRS that you are a victim or potential victim of tax-related fraud. You'll need to include proof of your identity, such as a photocopy of your driver's license or passport. In addition, file a report with your local police department. Under the recently expanded Law Enforcement Assistance Program, you can complete a special form allowing the IRS to release a copy of the fraudulent tax return that was submitted under your social security number. Who else to notify: the Federal Trade Commission, the Social Security Administration, your bank, and the national credit bureaus.
- What to expect. Once you file Form 14039 and validate your identity, you may receive an identity protection personal identification number. That number will allow you to file your tax return and receive your refund. However, be aware that straightening out your tax account can take a year or longer.
We're here to help you safeguard your financial identity. Call for more information, as well as assistance with IRS correspondence.
"Tax Tips" are published weekly to provide current tax information, tax-cutting suggestions, and tax reminders. If you would like more information on anything in "Tax Tips," or if you'd like to be on our mailing list to receive other tax information from time to time, please contact our office.
The tax information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance.
© MC 2013
May 13, 2013
Identity theft is a major tax scam
Have you gotten a tax bill you weren't expecting based on income you never received? Has your return been rejected, or your refund delayed? These unanticipated incidents can indicate your tax identity has been stolen.
Though it may be small consolation, you're not alone. Tax identity theft topped the IRS list of tax scams for 2013. Here's what you need to know if it happens to you.
- What to do. File Form 14039 with the IRS. The "Identity Theft Affidavit" starts the process of notifying the IRS that you are a victim or potential victim of tax-related fraud. You'll need to include proof of your identity, such as a photocopy of your driver's license or passport. In addition, file a report with your local police department. Under the recently expanded Law Enforcement Assistance Program, you can complete a special form allowing the IRS to release a copy of the fraudulent tax return that was submitted under your social security number. Who else to notify: the Federal Trade Commission, the Social Security Administration, your bank, and the national credit bureaus.
- What to expect. Once you file Form 14039 and validate your identity, you may receive an identity protection personal identification number. That number will allow you to file your tax return and receive your refund. However, be aware that straightening out your tax account can take a year or longer.
We're here to help you safeguard your financial identity. Call for more information, as well as assistance with IRS correspondence.
"Tax Tips" are published weekly to provide current tax information, tax-cutting suggestions, and tax reminders. If you would like more information on anything in "Tax Tips," or if you'd like to be on our mailing list to receive other tax information from time to time, please contact our office.
The tax information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance.
© MC 2013
