Identity Theft and Taxes
Identity theft is a growing and frustrating problem in today’s world.
Perpetrators run the gamut from sophisticated thieves breaching the security of large retailers to people rummaging through garbage for useful information, to everything in between. We have been warned not to reveal personal information, and to shred documents containing Social Security numbers, account numbers or other sensitive information.
The tax world has also been touched by identity theft. This has most commonly been manifest by unscrupulous individuals using stolen Social Security numbers and filing fraudulent tax returns claiming a refund. Typically the fraudulent tax return is filed early in the tax season before the true tax return gets filed. Read more on Accounting Today.