The Internal Revenue Service has warned of a fraudulent scheme that uses fictitious bank correspondence and IRS forms in an attempt to trick individuals into disclosing their personal and banking data. The Service has warned (IR-2002-55) of a fraudulent scheme that uses fictitious bank correspondence and IRS forms in an attempt to trick individuals into disclosing their personal and banking data. Legally, banks must report interest to the IRS and individuals must include it as income. Individuals who have received a fraudulent letter and form should immediately contact their financial institution. Identity theft occurs when someone uses your personal information such as your name, Social Security number (SSN) or other identifying information, without your permission, to commit fraud or other crimes. The IRS has a special section on IRS.gov dedicated to identity theft issues, including YouTube videos, tips for taxpayers and an assistance guide.
Return Preparer Fraud – some unscrupulous preparers prey on unsuspecting taxpayers and route their refunds into their personal accounts and possibly identity theft as well.
Hiding Income Offshore – taxpayers evade taxes by sending their money to offshore banks, brokerage accounts.
Impersonation of Charitable Organizations – people asking for money impersonating charities. Frivolous Arguments – promoters of frivolous schemes encourage taxpayers to make unreasonable and outlandish claims to avoid paying the taxes they owe.


Falsely Claiming Zero Wages – Filing a phony information return is an illegal way to lower the amount of taxes an individual owes.
Disguised Corporate Ownership – third parties are improperly used to request employer identification numbers and form corporations that obscure the true ownership of the business. Misuse of Trusts – Unscrupulous promoters urge taxpayers to transfer assets into trusts by telling them that trusts will give them tax benefits, but the trusts are actually used to avoid income tax liability and to hid assets from creditors.
The information is then used to steal the individual's identity and bank account deposits. They should also report the attempted fraud to the Treasury Inspector General for Tax Administration (TIGTA), by calling the toll-free fraud referral hotline at 1-800-366-4484, faxing a complaint to 202-927-7018, or writing to the TIGTA Hotline, P.O. Please use the 'SHARE' button (lower left) to email to friends, or share this message with your 'social network.' Thank you! In many cases, an identity thief uses a legitimate taxpayer’s identity to fraudulently file a tax return and claim a refund.  In fact, three of our clients have been victims of Identity Theft this tax filing season already. For victims, the information includes how to contact the IRS Identity Protection Specialized Unit. Typically, a Form 4852 (Substitute Form W-2) or a “corrected” Form 1099 is used as a way to improperly reduce taxable income to zero. Or you receive an e-mail that appears to be from the IRS, requesting information to process your tax return.


The letter urges the individual to fax the completed form to a specific number within seven days or lose the reporting and withholding exemption, resulting in withholding of 31 percent on the account's interest.
For other taxpayers, there are tips on how taxpayers can protect themselves against identity theft.
In this ongoing scam, the perpetrator files a fake information return, such as a Form 1099 Original Issue Discount (OID), to justify a false refund claim on a corresponding tax return. The taxpayer may also submit a statement rebutting wages and taxes reported by a payer to the IRS. The scheme promoters then use the faxed information to impersonate the individual and gain access to the individual's finances.
Ryan provides consulting services on a variety of technical tax matters, with an emphasis on international tax, oversees tax compliance and handles tax controversies.



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Comments to «Irs identity theft form»

  1. BAKU_OGLANI on 04.11.2013 at 21:21:49
    Reply to them - it seems shoplift/price tag.
  2. Seva_19 on 04.11.2013 at 12:13:53
    Sorts of records that he may have involvements phone.