Although the 2015 tax deadline has passed, based on the increase of tax return fraud seen this year, Phil Zaman, based in Kansas City and Director of the CBIZ National Tax Office, recently shared some advice to mitigate risk of falling victim to these scams in future years.
“An increasingly successful technique used by scammers is filing fraudulent tax returns earlier than the average tax payer,” he told MainStreet. “The IRS generally assumes it’s valid, though they do have some [detecting] algorithms now,” continues Zaman. If you are filing a paper return, it normally takes six weeks before being processed, “because of this, when the actual taxpayer goes to file their return, they won’t know until long after they file – when they get a notice that the IRS has bounced their return – that they have fallen victim to tax return identify theft,” warns Zaman.
Read the full article about how to detect tax ID fraud here.