Identity theft is a fact of modern life.
That may sound bold, but the numbers support that unfortunate reality.
According to the Wall Street Journal in February, 803 million individual records have been stolen in the last three years through major information breaches – like when the Target or Anthem databases were compromised. The U.S. population is about 319 million.
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Although not everyone’s information has been stolen, if you break down the numbers, every individual in the U.S. could have had their information stolen 2.5 times in the last three years.
As a tax preparation/relief company, Advance Tax Relief is most concerned about the impact these thefts have on your tax situation. This is called tax identity theft, and here is how it often happens:
A thief steals your name, birth date and social security number.
The thief files a tax return using that information. They simply make up the details about an employer, income, dependents and more. The information is completely false and engineered to get a refund.
It’s that simple. All a thief needs is you name, birth date and social security number.
Often, you don’t learn about this fraud until you go to file your accurate return and the IRS rejects it because they already have one on file with your social security number. Alternatively, you may file your return and later get a letter from the IRS showing one of the following:
That more than one return was filed
You received wages from an employer unknown to you
You have a balance due, offset or collections action
Related: Learn how to help better protect your identity.
The Treasury Department estimates that it takes 278 days to resolve a case of tax identity theft. Most unfortunately, the burden is on you – the victim – to prove your identity is true. And while everything is being sorted out, you don’t get your refund.
If you are facing tax identity theft on your own, here are the steps you need to take.
Share the IRS letter or notice with your tax professional. They can help you respond to it.
Complete IRS Form 14039, the Identity Theft Affidavit.
File a local police report.
File an identity theft report with the Federal Trade Commission.
Set up fraud alerts with the credit bureaus (or at least with one):
Set up a system for monitoring your credit reports closely for at least the next year.
Notify your financial institutions.
Submit your tax return by paper if the electronic copy was rejected.
It’s a lot of work.
If someone files a fraudulent return using your information, all you have to do is call Advance Tax Relief.
GET TAX RELIEF HELP TODAY
If you think that you may need help filing your 2017/2018 tax return or past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.
Advance Tax Relief is headquartered in Houston, TX with a branch office in Los Angeles, CA. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.
Advance Tax Relief is rated one of the best tax relief companies nationwide.
Call our team today at 800-790-8574 for more information. For a free consultation, schedule an appointment with us online. Feel free to also learn about us and contact us via http://www.advancetaxrelief.com.
However, it doesn’t matter where you live, we service taxpayers nationwide. We have settled millions in back tax penalties and interest for our clients nationwide.
Advance Tax Relief is a Professional Tax Relief Organization