11/12/2023 0 Comments Tax return![]() ![]() The IRS estimated that during the 2013 filing season alone, over 5 million tax returns were filed using stolen identities, claiming approximately $30 billion in refunds. However, everyone with a Social Security Number is potentially vulnerable to having his or her identity stolen. For example, SIRF criminals have used Social Security Numbers stolen from hospitals, nursing homes, and public death lists, thereby exploiting some of the most vulnerable members of our communities, including the elderly, the infirm, and grieving families. Identities used in SIRF crimes may be stolen from anywhere. These criminal enterprises are able to exploit the speed and relative anonymity of highly automated systems for storing personal information, preparing and filing tax returns electronically, and generating income tax refunds quickly-often in the form of electronic payments. ![]() SIRF crimes are often perpetrated by large criminal enterprises with individuals at all stages of the scheme: those who steal the Social Security Numbers (SSN) and other personal identifying information, those who file false returns with the Internal Revenue Service (IRS), those who facilitate obtaining the refunds, and the masterminds who promote the schemes. Working to stop Stolen Identity Refund Fraud, or SIRF, is vital because these schemes threaten to disrupt the orderly administration of the income tax system for hundreds of thousands of law abiding taxpayers and have cost the United States Treasury billions of dollars. One of the Tax Division’s highest priorities is prosecuting people who use stolen identities to steal money from the United States Treasury by filing fake tax returns that claim tax refunds. If you know you don’t owe taxes or have no reason to believe that you do, report the incident to the Treasury Inspector General for Tax Administration (TIGTA) at 1.800.366.4484 or at Stolen Identity Refund Fraud (SIRF) Enforcement If you receive a telephone call from someone claiming to be an IRS employee and demanding money, you should consult the IRS Tax Scams/Consumer Alerts webpage. ![]() The amount of government waste is really endless and I think we would all benefit from lower taxes and a less powerful central government so that we could put our hard earned money to better use.ALERT: The IRS does not send unsolicited email, text messages or use social media to discuss your personal tax issues. While I do agree that tax payer money is necessary for some programs obviously this money is not well spent because for that amount of money the children could have gone to a private school and gotten a decent education. only 13% of the 8th graders can read at a proficient level. For example, Wisconsin spends about $12,000 a year on each student and only 33% of eight grade students can read at a proficient level. The states don’t do all that much better either. There are also countless other waste of our tax money that goes to fund ridiculous research studies for example. Look at California who was running deficits of several billion dollars a year because they did not want to cut spending and reduce some of their entitlement programs. Many states are looking for a bail out from our tax money because they mismanaged their own states. While I agree that a certain amount of taxes are necessary in society, I do feel that the most of the money that taxpayers payout to the federal government is misspent. Look at Illinois who recently raised its state income tax to 68% which is no wonder why people are leaving the state in droves.Įventually people get sick of the high taxes and will go somewhere else where they can keep more of their income. It is not fair that 50% of Americans pay no federal income taxes while the top ten percent of wage earners pay 96% of the federal income taxes. This way even tourists would be paying our taxes and more Americans would not have to file a 1040 tax return and we could get rid of the Internal Revenue Service for good.Įven if the taxes were based on income we should all pay the same percentage. I really like the idea of a flat tax based on consumption and not income. Each year that I file my federal tax return I always wonder what governmental black hole will my money be going to. I feel like I have extra spending money although most financial advisors say that you should adjust your withholdings so that you do not receive a refund because they are essentially holding your money for free and you could be earning interest somewhere else.Ĭomfyshoes - I agree with you. I hate tax time but I always enjoy getting my refund from my federal tax return. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |