Page 74 - April 2017 Life In Naplles Magazine

FINANCE

YOU MAY BE A

VICTIM OF IDENTITY THEFT

by Michael Wiener, E.A. If you or your tax
R ecently the Federal Trade Commission reported that • Check your credit report every notice from the
professional receives

government documents/benefits is the most common form 12 months
IRS that your tax
of reported identity theft. As a tax practitioner, identity • Secure personal information in
theft continues to be an ever increasing problem for my clients. your home records may have
First of all the question is asked: What • Protect your personal been compromised,
is identity theft? Identity theft occurs when computers by using firewalls,
respond immediately
someone uses your personal information anti- spam/virus software, update
such as your name, Social Security number security patches and change to the name and/or
(SSN) or other identifying information, passwords for internet accounts. number printed on
without your permission, to commit fraud • Remember the IRS does not the notice or letter.
or other crimes. These crimes are serious! initiate contact with taxpayers
If you become a victim of identity theft by email to request financial
you can spend months or possibly years information. This includes any type of electronic communication
(and your hard earned money) repairing such as text messages or social media.
the mess these thieves have made of your • If your tax records are not currently affected by identity theft, but
good name, your credit record, your tax you believe you may be at risk due to a lost or stolen purse, or wallet,
information, and your refund. questionable credit card activity or credit report, you may consider
Usually an identity thief uses a legitimate taxpayer’s identity to contacting the IRS Identity Protection Specialized Unit.
fraudulently file (E-File) a tax return and claim a refund early in the In my practice I have seen where identity theft cases are extremely
filing season. You may be unaware that this has happened until you complex to resolve, frequently touching on multiple issues and
file your tax return later in the filing season and you will get a notice multiple tax years. It seems that we must remain vigilant to guard our
that two returns have been filed using the same SSN. Thus innocent personal information.
taxpayers are victimized because their refunds are delayed.
If you or your tax professional receives notice from the IRS that
your tax records may have been compromised, respond immediately If you should have a topic that you would like me to
to the name and/or number printed on the notice or letter. You will discuss or if you should have a question, please feel free to
have to fill out IRS Identity Theft Affidavit Form 14039. In addition call 239.403.4410 or e-mail me at
the IRS will issue a six- digit identity protection (IP) PIN number michael@mwtaxandaccounting.com.
that must be used when filing your tax return. IP PIN’s are valid for
We have a new office address
only one year. A new number is issued every year for three years after
the identity theft incident. 4280 East Tamiami Trail
Here are some tips to help you protect yourself from becoming a Executive Suite 302-M | Naples, FL 34112
victim of identity theft:
• Don’t carry your Social Security card or any documents with your An enrolled agent, licensed by the US Department
SSN or Individual Taxpayer Identification Number (ITIN) on it. of the Treasury to represent taxpayers before the IRS for
• Don’t give a business your SSN or ITIN just because they ask. audits, collections and appeals. To attain the enrolled agent
Give it only when required and you know who is asking for designation, candidates must demonstrate expertise in
information taxation, fulfill continuing education credits and adhere to
• Protect your financial information a stringent code of ethics.

74 Life in Naples | April 2017