How Can You Prevent Taxpayer Identity Theft?

By John W. Cashman, Jr., CPA
Tax Manager at Gray, Gray & Gray, LLP

Identity theft road signWhile it is tax season for most of us, it is Christmas for online identity thieves. With so many people transferring their personal information and financial data via mail or electronically, unscrupulous individuals are having a field day. In most cases they are targeting tax refunds, using stolen social security numbers to assume your identity and taking the money that is rightfully yours. Continue reading

IRS Cracks Down on Tax ID Theft: Could You Be a Victim?

Identity TheftIn recent years, the IRS has been inundated with thieves filing tax returns using fraudulent information with the goal of stealing other individuals’ tax refunds. The tax agency announced that it is cracking down this filing season. Here are the details of the tax identity theft crackdown, as well as a list of “high-risk” areas identified by the IRS and what you can do to help protect yourself.

Read the full article here.

IRS to Allow Truncated Tax IDs to Combat Identity Theft

Accounting Today
Washington, D.C. (February 21, 2013)
By Michael Cohn

Accounting TodayThe Internal Revenue Service is taking further steps to combat identity theft, including issuing proposed regulations that allow taxpayers to truncate the identification numbers on some tax documents they file. Click here to read the full article.