For many Americans, tax season is a time of confusion and dread. Even if you’ve managed to gather all your paperwork in a timely fashion and are owed a refund, this may not be the end of your anxiety. Tax identity fraud is a multibillion dollar industry for criminals who try to use your Social Security Number to file a bogus tax return that results in them receiving a refund in your name. To combat this, the Internal Revenue Service (IRS) has begun rolling out new initiatives to help verify taxpayer identities and data.
Tax identity fraud: Bringing the fight to this menace