We don’t have to tell you that identity theft is a major problem. Crooks might steal your identity to obtain credit cards or to take out loans in your name, or they might steal your identity to claim an IRS tax refund in your name. Sometimes they’ll file a fraudulent return that not only gets a refund issued in your name but could land you in audit hell.
There are various signs that you are a victim of identity theft including credit card and loan accounts that show up on your credit reports. This is why you should check your credit reports regularly. There are also signs that you are a victim of IRS identity theft. Here are danger signs that you are a victim of identity theft with the IRS.
DANGER SIGNS FROM THE IRS
You received in the mail certain IRS Authentication letters including letters 5071C, 6331C, 4883C, 5747C even though you haven’t filed a return for the tax years mentioned in the letter.
If you get a refund even though you haven’t filed a tax return yet it’s not a gift from heaven but it’s a sign someone stole your identity.
Another sign that someone stole your identity is that you got in the mail a tax transcript from the IRS that you didn’t request.
A big danger sign of identity theft is that you got a notice from the IRS that someone created an IRS online account for you and you didn’t create that account.
Also watch for notices from the IRS that the taxpayer wasn’t expecting that say someone accessed your IRS online account, or there’s a balance due but you owe no money.
The bottom line here is not to ignore letters from the IRS. Read them. Notify the IRS if you suspect your identity has been stolen. Remember, the identity theft could be creating a debt that you might have to pay back to the IRS.
REMEMBER THE FRESH START INITIATIVE
But if you have an actual tax debt to the IRS now talk to us because we may be able to help you with the Fresh Start or Offer In Compromise program with the IRS. We offer a free telephone consultation to discuss the IRS Fresh Start Initiative and what the IRS Offer in Compromise program can do for you. Not everyone qualifies for the Fresh Start Initiative or for an Offer In Compromise but in a free consultation taking just a few minutes we can discuss if these options can help you. We can also discuss other options for resolving your IRS debt.
Check your Mail. Call us. Don’t be an identity theft victim and don’t let your IRS debt mount up.