IRS missing billions of tax dollars to Identity Theft

Over 5 Billion Dollars lost to Identity Thieves filing false 2011 Returns

There is a filing gap that thieves take advantage of to steal our tax dollars. Tax returns can be filed as early as January 15th, but businesses and institutions do not report to the IRS until March 31. Thus, the IRS does not know there is a problem until it is too late.

IRS also has systems problems. They do not seem to have the proper red flags in place to detect even obvious fraud. There were 21,000 returns filed to one address in Michigan which should have triggered an alert.

Nearly all of the false returns were filed electronically. The IRS needs to expand their Identity Protection Personal Identification Number (IP PIN) program to ALL tax returns filed electronically.

Tax Refund Fraud

Are You a Victim of Tax Identity Theft?

IRS Identity Theft Affidavit IRS Form 14039

It’s our money. Let’s make it harder to steal.

About Bruce Demarest

Bruce Demarest is a Identity Theft Protection Specialist. He has designed and taught classes to educate individuals and businesses in identity theft risk management. The individuals have learned how to continuously monitor their financial identities from credit fraud, plus how to monitor their personal identifying information for unauthorized use. His business clients have become compliant with the federal & state privacy laws. He has conducted information security audits to identify their potential problems and has designed security policies, programs, and practices to address those problem areas.
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1 Response to IRS missing billions of tax dollars to Identity Theft

  1. Pingback: Digital Forensics, Inc. IRS missing billions of tax dollars to Identity Theft | Digital Forensics, Inc.

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