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File Your IRS Taxes Before Cyber Scammers Do It For You

CyberWisdom Safe Harbor Commentary on IRS Taxes:

A must-read story from krebsonsecurity.com notes that today, one day after January 29, officially the first day of the 2018 reporting season, is also known as the day cyber tax scammers began to demand a false tax rebate on behalf of the victims of identity theft which is stealing your tax returns. Want to minimize the chance of this year’s tax fraud? Give the tax before the bad guys!

Hundreds of thousands (or even millions of U.S. dollars) of U.S. citizens suffer tax rebates every year. Victims usually know about crimes only after they are denied because the liar assaulted them. Even those who do not need to submit a return can be victims of refund fraud, as do those who do not actually have a refund from the IRS.

According to the IRS, consumers’ complaints about tax fraud have been steadily declining for years, as the IRS and the states have enacted stricter measures to screen potential fraud applications.

If you submit taxes electronically and the returns are denied, and if you are a victim of identity theft (for example, if your social security number and other information occurred during the Equifax spill last year), you should file an identity theft Affidavit form 14039). The IRS recommends that if you suspect that you are the victim of identity theft, even if you have to continue paying the tax paper and submitting the tax return.

If the IRS considers you may be the victim of tax fraud for the preceding tax year, they may send you a special application password, which you will need to enter with this year’s tax return before you can electronically obtain IRS accept. This year is the third of the last five I received from the IRS for one of the PINs.

Of course, submitting taxes early to beat fraudsters requires one person to have all the tax forms. As a wholly-owned company, this is a big challenge as many companies have spent their sweet time sending 1099 forms etc. (even if they were asked to do so on January 31).

Many companies are now turning to online services to provide tax forms to contractors, employees, and others. For example, I received several emailed notifications about the online availability of Form 1099; most said they were using snail mail to send the form, but if I just created an account or entered some personal information on a third-party site, Well if I need them earlier, I can get them online.

Having seen so many websites deal with personal information, I am not very interested in more volunteers. According to Bankrate, even if the taxpayers do not yet have the full 1099, they can still submit returns – as long as you have the right information and how much you have.

Bankrate explains: “Unlike the W-2, you typically do not need to append 1099s to your tax returns.” They’re just shipping, so you know how many reports and copies you have to the IRS, so the return processor can double-check your entry. As long as you have the correct information, you can put it on your tax form without the need for a hand statement. ”

In past tax years, identity thieves used data collected from various third-party and government websites to file false tax rebates – including from the IRS itself! One of their longstanding favorites is the Get Transcript service from IRS, which had quite relaxed certification before.

Read more…

Today, Jan. 29, is officially the first day of the 2018 tax-filing season, also known as the day that fraudsters start requesting phony tax refunds in the names of identity theft victims. Want to minimize the chances of getting hit by tax refund fraud this year? File your taxes before the bad guys can! Tax refund fraud affects hundreds of thousands, if not millions, of U.S. citizens annually. Victims usually first learn of the crime after having their returns rejected because scammers beat them to it. Even those who are not required to file a return can be victims of refund fraud, as can those who are not actually due a refund from the IRS. Engaging post, Read More…

thumbnail courtesy of krebsonsecurity.com


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