Identity Theft — How the IRS is Trying to Help

Let’s face it, identity theft is not going away and it certainly has gotten worse.  There are many things that we can do to try to protect ourselves….and, the IRS and states know there is more they can do to try to protect citizens from tax-related identity theft issues.

A large concern that we are all worried about…..fraudulent tax returns filed in our name by an identity theft perpetrator.  The IRS is trying to be better in assisting you….helping you protect your personal and business tax information and returns.  This protection can also potentially help protect your Solo-K plan (also called a Solo 401(k), Uni-K, self-directed 401(k), self-administered 401(k), one-participant 401(k).

As taxpayers it is not difficult to fall for tricks the cyber criminals employ to get unsuspecting and honest folks to give our their social security number, bank account numbers and password information.   There are few things in the tax world of believing a criminal can secure our tax information and file fraudulent tax returns.

Read this notice as it is intended to be informative.  Also, click the IRS’ links on the notice as well.  No one ever has accused the IRS of writing inspiring notices, but this information is all good and really there to assist you, the tax payer.

As always, the information provided is intended to be educational in nature.  It is not intended, nor should it be interpreted as, any form of tax, legal, financial or investment advice.  You must always consult with your respective professional in all such matters.