Thursday May 24, 2018
46% Reduction in IRS Identity Theft Reports
By May of 2017, the IRS received 139 million returns. Over 152 million are expected by the October 16 tax extension filing date. The IRS issued 101 million refunds, with an average payout of approximately $2,800.
Koskinen thanked the CERCA members for helping to support the IRS Security Summit. With the help of companies that provide tax-filing software and services, there has been major progress in "efforts to combat stolen identity refund fraud and protect taxpayer data."
In Koskinen's view, the new safeguards produced "stunning results." There was a major decrease in fraudulent returns and bad refunds.
The number of taxpayers who reported identity theft crimes declined dramatically. There were 698,700 reports in 2015 and only 376,500 in 2016. This reduction reflects IRS success in "stopping criminals from filing false returns using someone else's personal information."
In the future, a combination of the support from CERCA members and the new Identity Theft Tax Refund Fraud Informaiton Sharing and Analysis Center (ISAC) will be critical to reducing fraud and identity theft.
Editor's Note: The IRS has made major progress in reducing tax fraud and identity theft. Because the thieves are creative and continue to develop new strategies, it will still be important for CERCA and the IRS to educate and alert taxpayers about the latest tax fraud methods.
Invest in Bible Translation
Millions around the world still need the Word of God in their own languages. You can change lives with your legacy!Create Your Giving Plan