Identity theft results when someone uses another person’s name, Social Security number, or other identifying information without permission, to commit fraud or other crimes. It can take a victim months and lots of money to rectify the problems resulting from identity theft. The IRS has provided guidance to deter identity theft and what to do if it happens.
Do not respond to any email purported to come from the IRS:
You can report suspicious contacts you receive to the IRS at [email protected].
The IRS also offers these tips to minimize the chances of becoming a victim of identity theft:
Source: IRS Publication 4535, Identity Theft Protection and Victim Assistance
A nondeductible contributory IRA that allows for tax-free accumulation of income. Qualifying distributions are completely tax free.