A Huge Frustration for Tax Refund Victims

This is nothing new that people are stealing identities and then stealing their money from banks and even from tax-refund too. This gave a major start in 2013. Identity thieves are getting more creative and bold in stealing billions in tax refunds from Internal Revenue Service now.

A recent victim Laura Hankins knew something was wrong when she filed her daughter’s tax return and it was rejected hours later: An identity thief already had sent in a return using the 19-year-old’s personal information.

“This is the first time in her life she has ever filed income taxes, after earning all of $1,800 stocking products on grocery store shelves,” Hankins said. “I did her taxes for her online, but immediately she got the rejection.”

Thieves have claimed billions of dollars in bogus tax refunds from the IRS by swiping the Social Security numbers and identities of schoolchildren in Florida, prisoners in Pennsylvania, teachers in Washington state and soldiers deployed in Iraq and Afghanistan.

The IRS said Thursday that it has started more than 200 investigations into identity theft and refund fraud schemes this filing season and that enforcement efforts are taking place nationwide. It said investigators are especially focused on the misuse of specialized identification numbers assigned to firms that electronically file tax returns.

But the ease of the schemes means no one is immune. The best steps to reduce the chance of refund fraud are to protect your Social Security numbers and other personal information.
Because Hackers and employees with access to thousands of names stored in company databases have tapped into reams of personal information, allowing them to submit hundreds of fraudulent returns by computer and receive refunds within days.
It all adds up to a lot of frustration for legitimate taxpayers who face more paperwork and months of waiting for their tax refunds.

IRS has to take a step against this step, so people can start trusting them again rather to stop paying taxes.

Source: http://whogothack.blogspot.co.uk/2014/04/a-huge-frustration-for-tax-refund.html#.VjUxKPmqqko

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