Return or Burn
Essex & Associates:: http://www.essexinc.biz June 9, 2011
Dealing with the IRS is stressful enough.
So is dealing with identity theft.
For a large and growing number of Americans, there's a fresh hell: dealing with both at once.
Since 2008, the IRS has identified about 470,000 incidents of identity theft affecting more than 390,000 taxpayers, Sen. Bill Nelson (D., Fla.) said at a Senate Finance Committee hearing on Wednesday, May 25th.
The problem appears to be expanding rapidly. In 2008, there were about 52,000 incidents involving the IRS, according to the Government Accountability Office. In 2010, there were 245,000.
Many of the cases involve scammers using stolen Social Security numbers to file fraudulent returns in hopes of getting a quick refund check. But some cases also involve people using fake Social Security numbers for work, resulting in unexpected reported income for the real Social Security number holder.
Either way, the phenomenon can be a nightmare for victims. For everyone, it's another sign of how complicated and vulnerable the income-tax system can be.
The tax code filing system is subject to easy manipulation. Use a professional firm to minimize the possibility of your return creating a Hades experience for you.
Wishing you many happy returns,
Wayne T. Essex Ph.D.
Essex & Associates
Tax, Accounting, HR, Payroll
7501 Paragon Road
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