The Internal Revenue Service (IRS) plays a critical role in ensuring that tax refunds are issued accurately and securely. However, tax fraud and identity theft have increasingly become major challenges. Every year, cybercriminals exploit sensitive personal information to file fraudulent tax returns, diverting refunds to their own accounts. To combat these threats, the IRS has adopted stringent measures to protect taxpayers, including offering an Identity Protection PIN (IP PIN) program. Read on to discover how the IRS is addressing fraudulent refunds and how you can further safeguard your financial identity.
To counter these threats, the IRS has implemented a series of robust measures, including:
The IRS uses sophisticated algorithms and filters to detect fraudulent returns. Returns that appear suspicious are flagged for further review. Additionally, the IRS matches W-2 forms from employers with the information on tax returns to ensure accuracy.
Please select this link to read the complete article from OSAP Mission Partner Clark Schaefer Hackett (CSH).