Identity Theft, Fraud and Taxes

Please note that you can file Form 14039 with IRS to put them on notice that your identity may have been compromised. The Director of the IRS Office of Privacy, Governmental Liaison and Disclosure, stated that: “We have a special account marker that we use. . .where an individual has had their personal information stolen or compromised. Maybe they do not have a tax problem yet, but we encourage, in that situation, for [him or her] to call. We put that special marker on your account, and it lets us know that that account is at risk.”

 

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IRS Penalties

The IRS has a program called “first time abate” which will enable taxpayers who have received a penalty notice for failure to file, pay or deposit to have the penalty removed IF and this is non-negotiable, there has been no prior late filings or payments in the past.  This removal is a one-time consideration….but it is automatic.  Call our office if you have any questions.