According to a revealing government report, the IRS still has a system that needs additional work to be totally adequately effective. The IRS has taken actions, to its credit, to develop procedures that will help identify identity theft. This could also include developing tax returns that contain characteristics that would allow the IRS to tell if the original return is being filed.
As it stands, identity theft is continuing to evolve, which makes affects tax administration. It affects businesses and individuals in a terrible way. The IRS should use every tool at its disposal to prevent identity theft from occurring. It means updating systems and hiring the personnel it takes to get the job done.
There is a new era in which the IRS is collaborating with the electronic tax industry so that people who file tax returns will have a much safer and secure experience. The IRS Commissioner, John Koskinen feels that the IRS is making great progress in this area.
There’s much to do. In the meantime, individuals can help themselves by monitoring their financial assets and utilizing the services of a tax attorney when and where necessary. The system will never be perfect, but you can certainly to your part in protecting your own assets.
Check out more IRS News stories by clicking that link.
Law Offices of Darrin T. Mish, P.A.: Tax Attorney