First Identity Theft

[mcb39]

I had my first case of Identity theft yesterday. Client is already on the case with the IRS. This is so disgusting. After Fed was rejected for second use of SS of primary taxpayer, I filed the state and it went through and was accepted. That is a pretty good sign of IT. At least the IRS homepage has some pretty clear guidance on how to proceed with contact info. Had one last year and it took them until August to get their refund.

[RDennis]

In 2011, my son went through with one. It, however, took him until October to get his refund. He received a PIN number the 2011 return. And, a different one for the 2012 return. I wonder if they will give him a different PIN number each time.

[Pacun]

Your son will get a letter each year to file his taxes. The return will be process normally but if your son doesn't have that letter with the number, his refund will be processed in August or after.

[Terry O]

My first client with the pin came in on Sat. Thanks for the heads up on a different number each year.

[SFA]

Wonder if we should get this info out to our clients who depend on their large refunds. When asked if anyone has had a client who has been rejected for IT, quite a few hands were raised at one of our recent PSPA chapter meetings. It can and does happen. I'm encouraging my clients to consider changing W4's to reduce the size of next years refund.

[Jack from Ohio]

Wonder if we should get this info out to our clients who depend on their large refunds. When asked if anyone has had a client who has been rejected for IT, quite a few hands were raised at one of our recent PSPA chapter meetings. It can and does happen. I'm encouraging my clients to consider changing W4's to reduce the size of next years refund.

Even to the extent of owing a hundred or so. That way, no refund to wait for. This is good financial planning 101 anyway.

[Jack from Ohio]

In 2011, my son went through with one. It, however, took him until October to get his refund. He received a PIN number the 2011 return. And, a different one for the 2012 return. I wonder if they will give him a different PIN number each time.

A new Identity Theft PIN will be issued each year for 3 tax years. If no fraudulent activity happens in the three years, then it ceases.

[Pacun]

Identity theft has nothing to do with how large your refund is. Remember that either they steal your dependents ss# or yours. Most of the time they file faster than you with fake W-2s to get a big refund.

[Jack from Ohio]

Identity theft has nothing to do with how large your refund is. Remember that either they steal your dependents ss# or yours. Most of the time they file faster than you with fake W-2s to get a big refund.

Think outside the box a moment...

If I reduce my withholdings so that I owe $100 on my tax return, then someone else submits a fraudulent return ahead of me, I have NO refund to be delayed until August.