You just opened your mail and discovered that you have received an IRS Letter 5071C…
Tax-related identity theft occurs when someone uses your personal information, such as your Social Security number (SSN), to file a tax return. Although tax identity theft is less prevalent than other types of identity theft, it can still cause some major headaches and take some time to resolve. To help reduce your chances of becoming a victim, be sure to recognize the warning signs and take the necessary precautions to protect your personal information.
In many cases, you may not know that you’re a victim of tax-related identity theft until you are notified by the IRS. There are, however, some distinct signs that you may have an issue, such as:
Another sign that you may be a victim of tax-related identity theft is records of income or wages received from an employer you never worked for in the past or present. This is a clear indication that someone is fraudulently using your SSN.
If you believe that you are a victim of tax-related identity theft, there are some steps you can take to help remedy the situation and protect your financial accounts.
If you believe that someone has falsely filed a tax return under your name and SSN, you can also get a copy of the return. To request the return, complete Form 4506-F, Request for a Copy of Fraudulent Tax Return. You can submit the form by mail or fax.
The IRS will acknowledge your request within 30 days of receipt and generally send a follow-up letter or a copy of the return within 90 days.
To minimize your risk of tax-related identity theft, the IRS has put together some helpful tips.
Any taxpayer who can verify their identity may also get an Identity Protection PIN. This six-digit number offers additional protection for your SSN on your tax return.
Remember, the IRS will never initiate contact with you by email, text, or social media to request any financial information or your Identity Protection PIN. If someone calls claiming to be the IRS and threatens you with jail or a lawsuit, hang up immediately – it’s a scam.
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