Here is something that I just learned about and thought I would pass this on to you. Did you know that identity theft has hit the income tax process? Thieves are taking your personal information, filing a false tax return and getting your refund!How is this possible? You might assume that the thief would have to know everything about you, because tax returns aren’t simple documents. There’s dependent information, property taxes, employer records, all kinds of information that we all take great pains to make sure is correct. But, these details aren’t checked instantly for accuracy. You and I only make sure they’re accurate in case we’re audited months or even years after we file our returns. The person who steals your tax refund won’t be waiting around for an audit. Once he, or she, has your social security number and the tax-id number of any company, (s)he simply makes up the rest of the information. That’s right, all that’s needed to steal your refund is your social security number and a fake 1099 and/or W-2. The tax return doesn’t even need a real return address. If the false tax information is taken to a company that offers instant […]

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