Identity Theft and the STOP Identity Theft Act

Posted on March 20, 2014

Has your identity been stolen?

Has the identity thief filed a fake tax return with the IRS in your name?

Identity thieves filed approximately two million false tax returns in 2012, nearly double the amount in 2011.

Although the IRS has improved the time it takes to resolve an identity theft case from 300 days to 120 days, the time it takes the IRS to resolve these problems is still excruciatingly long.

In an effort to further curve tax related identity theft, a new bill called the STOP Identity Theft Act would increase the maximum jail sentences from 15 to 20 years for tax related identity theft. The list of victims would also be expanded to include organizations and businesses, not just individuals. Further, the proposed legislation requires the Department of Justice to coordinate prosecutions with state and local authorities.

The bill sponsor stated that “cases of identity theft have surged in recent years, wreaking havoc on peoples’ lives and costing taxpayers billions of dollars.”

Are you the victim of tax related identity theft? Call us, we can help. Call us before the IRS calls you!

Photo Source: doit.wisc.edu