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Benzinga
  • 2 years ago
Tax identity theft occurs when criminals use a person's information to file a fraudulent tax return and claim a refund. It remains a major problem, according to experts. Victims of tax identity theft wait an average of almost 19 months for the IRS to process legitimate returns and issue refunds. Signs of potential tax identity theft include IRS letters about suspicious returns, inability to e-file, and unexpected tax transcripts. Filing early is recommended to beat scammers, but complete and accurate returns should take priority over rushing.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Tax identity theft occurs when criminals use a person's information to file a fraudulent
00:06 tax return and claim a refund.
00:08 It remains a major problem according to experts.
00:11 Victims of tax identity theft wait an average of almost 19 months for the IRS to process
00:16 legitimate returns and issue refunds.
00:19 Signs of potential tax identity theft include IRS letters about suspicious returns, inability
00:24 to e-file, and unexpected tax transcripts.
00:28 Filing early is recommended to beat scammers, but complete and accurate returns should take
00:31 priority over rushing.
00:33 Getting an identity protection PIN from the IRS adds an extra layer of security by blocking
00:38 others from using your SSN to file.
00:41 While the IP PIN was only for victims before, anyone can now enroll for added future protection
00:46 against tax identity fraud.
00:48 For all things money, visit Benzinga.com.
00:50 [BLANK_AUDIO]
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