Thomson Reuters Checkpoint has released a special report to highlight the prevalence of tax-related identity theft and to guide practitioners representing victims.
The report is based on recent publications by the Internal Revenue Service which reported that identity theft is the fastest growing U.S. crime and tax refund fraud has been the most commonly reported kind of identity theft for the past five years.
“Why is tax identity theft growing so quickly?” said Jim Keller, executive editor at Thomson Reuters Checkpoint and author of the special report. “Anecdotally, the IRS has heard of organized criminals who have given up drug trafficking to engage in the much easier, safer, and just-as-lucrative endeavor of tax refund fraud.”
The report will help practitioners and taxpayers understand trends, tax fraud schemes, and developments in identity theft. It also explains:
- How to detect tax-related identity fraud.
- How the IRS responds to identity theft and helps victims.
- Steps for representing tax identity theft victims.