“Internal Revenue Service” by saturnism is licensed under CC BY-SA 2.0
The IRS urges taxpayers whose identities may have been used by thieves to steal unemployment benefits to file a tax return claiming only the income they actually received.
In 2020, millions of taxpayers were affected by the COVID-19 pandemic through job loss or reduced work hours. Some taxpayers applied for and received unemployment compensation from their state. By law, unemployment benefits are taxable.
Scammers also took advantage of the pandemic by filing fraudulent claims for unemployment compensation
using stolen personal information of individuals who had not filed claims. Payments made as a result of these fraudulent claims went to the identity thieves.
Tax Season Is in Full Swing So Are the Tax Scams
nbcconnecticut.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbcconnecticut.com Daily Mail and Mail on Sunday newspapers.
Tax ID Fraud On The Rise
mycentraloregon.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mycentraloregon.com Daily Mail and Mail on Sunday newspapers.
Tax fraud may be on the rise this year; bank, IRS urge you file as soon as you can
PORTLAND, Ore. (KTVZ) With the 2021 tax filing season officially underway, it’s a great reminder to file your taxes as soon as possible before the April 15 deadline to avoid potentially becoming a victim of fraud.
Specifically, tax ID fraud, which remains an ever-present and widely concerning issue in the U.S. Late last year, the IRS announced it discovered $2.3 billion in such scams for fiscal year 2020 alone. And, with the rise of other types of fraud, such as COVID-19-related scams, 2021 could be an even more opportune time for criminals looking to capitalize on both business and consumer taxpayers.