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Income Tax Identity Theft
Identity theft happens when someone ends up using your personal information like your name, social security number without your permission to commit a fraud. Identity theft is a serious crime and people whose identities have been stolen end up spending months and substantial amount of money cleaning up the mess left by the identity thieves. |
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Usually identity theft involves stealing a victim’s personal data and then using that information to get to the financial accounts of the victim and running up charges on the victim’s credit card. However, identity theft not just limited to this. An identity thief can resort to income tax identity theft creating havoc with the victim’s tax record.
If your social security number is stolen by an identity thief, he or she can use it to get a job. The income earned is reported by the employer to the IRS using the employee’s social security number, and if you social security number is stolen then it will appear as if you are not reporting all your income in your tax return.
In income tax identity theft, the identity thief might also end up using your social security number to file tax returns in order to get a refund. If the thief ends up filing tax returns before you do, the IRS will assume that you have already filed and received your tax refund.
If you are a victim of income identity theft, you should immediately notify the IRS. It is quite possible that you might receive a notice of letter from the IRS stating that you have filed more than one tax return or the records indicate that you are receiving wages from an employer you do not know. If you should receive a notice like this, immediately contact the IRS either by phone or in writing as mentioned in the notice.
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