IRS problems aren't as complicated as they look once you see the structure. I'm attorney Darrin Mish. I've represented taxpayers before the IRS for three decades — in Florida, Colorado, Texas, and internationally. Here's the plain-English breakdown.
The never-ending fight against tax refund fraud has taken a new twist with the IRS’ latest strategy to nab refund fraundsters. This newest method has to do with Personal Identification Numbers of PINs, which anyone holding a bank ATM card will be familiar with.
This particular IRS strategy involves giving out PINs that are similar to the ones bank customers use for their debit cards. The PINs are used by taxpayers when they file their taxes. This program was started by the IRS 2011 when the agency handed out 250,000 PINs but the following year, the number of PINs assigned ballooned to 600,000 which means that the number of tax refund fraud victims actually more than doubled within that one year!
With this newest use of technology to combat tax refund fraud, it is hoped that this menace will be greatly reduced in this coming year’s tax season.
Check out more Tax News stories by clicking that link.