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Saturday, February 04, 2023

Four Billion Dollars and Counting From Stolen Tax Returns by Identity Theft!

According to news media identity thieves have stolen over 4 billion dollars from tax refund recipients by using the information found on their tax statement. It is also reported this stolen money is likely from people who have done their own return without the help of a tax professional. There always are exceptions.

Finding a competent tax preparer who not only understands the tax code but one who comprehends identity safety is imperative. A seasoned professional looks for solutions to your circumstances and works diligently to help you get the refund you deserve. You are looking for a problem solver.

Using the services of a knowledgable professional, especially in today’s economy is critical. Doing the taxes yourself on-line can lead to over-paid dollars, audits and identity theft. No one can guarantee one hundred percent safety, but professionals are more likely to have systems in place to protect your information.

There is a big difference between professional tax preparers and number crunchers. A professional is willing to go the extra mile to help you receive the most refund you can get legally. Another good quality to look for is someone skilled in tax defense audit and who will attend audits with you.

If you own a business, especially a home-based or small business, doing your own tax returns can add stress as well as confusion. Keep in mind you need to affirm the accuracy of your return. If an audit does happen, do you want to go it alone?

If you want to pay as little tax as possible and get your tax deductions, you need detailed planning and advice from an educated professional. If your taxable circumstances are complex then you need specialized advice and tips. If you invest in the stock market, own rental property, or live outside of the United States, doing your own tax preparation without the help of a professional leaves you vulnerable to paying more money or even identity theft. No-one is immune to the greed and thievery from information bandits.

Enrolled agents who have passed the extremely rigorous tests and background checks administered by the IRS are often the best qualified and specialize in complex tax situations.

Tax preparers come from a variety of backgrounds so be very careful and don’t ever be afraid to ask the right questions when deciding the best one to meet your need and handle your return with professionalism, has your best interest at heart, not just number crunchers with a software program on a computer.

Beware of anyone who wants you to hide from the IRS. Know that one day you will be found. If you receive any information about this please run as fast as you can in the opposite direction.

You are ultimately responsible, for the information on your tax return, not the preparer; so choose wisely. Keep your information safe and always beware of who reads your tax return.