DAY 2 What To Do If You Become A Victim Of Tax Identity Theft

• Respond immediately to any IRS notice. 

Call the IRS at 800-829-1040 to verify the notice received of tax identify theft or your tax professional will call on your behalf with Power of Attorney.

When the IRS confirms they sent the notice, an Identity Theft Affidavit (Form 14039) should be completed and submitted.

The IRS will then issue a PIN that verifies that you are the true owner of that identity.

It is extremely important to not misplace your PIN.  Obtaining a replacement PIN is a real challenge.

 For more information on IRS identity theft victim assistance visit irs.gov/IdtVictimAssistance

• Alert your financial institutions right away.

They will need to monitor any fraudulent activity on your accounts.  You will need to review transactions and have any accounts closed that you did not authorize to open.

• Notify at least one of the credit bureaus.

The credit bureau will place a fraud alert on your credit records. 

• Contact the FTC (Federal Trade Commission) to file a complaint.

The FTC recommends you visit their website to find helpful resources and file the complaint online.    identitytheft.gov

 

Sources

https://www.irs.gov/ “Taxpayer Guide to Identity Theft”

Raquel, Arrechea “Understanding Tax Return Identity Theft.” New Jersey CPA Magazine