January 11, 2012 11:17 am

IRS’s Taxpayer Guide to Identity Theft

If someone uses your Social Security number to file a fraudulent tax return in order to receive a tax refund, what can you do? The IRS now has a guide for taxpayers in this situation.

  • Respond immediately to a letter from the IRS telling you that 2 returns have been filed for the same year under your Social Security number; that you have a balance due, refund offset, or collection action taken against you for a year in which you did not file a return; or IRS records show that you received wages from an employer you do not recognize. The telephone number and person to contact will appear on the letter.
  • File Form 14039, Identity Theft Affidavit, which tells the IRS that you have been or think you have been a victim of identity theft. The IRS will then flag your tax account and monitor activity under your Social Security number.

Better still, protect yourself from identity theft. Guard your personal and financial information. Monitor credit activities under your name through the major credit reporting bureaus. You are entitled to a free annual credit check.

The guide contains useful telephone numbers and web sites to help you protect your identity. For example, the IRS telephone number to call for questions about identity theft is 800-829-4490.

Source: FS-2012-8

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Tax Glossary

Fair market value

What a willing buyer would pay to a willing seller when neither is under any compulsion to buy or sell.

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