Bohemia, NY (PRWEB) March 05, 2013
On March 5, Diapoules & Feinstein CPAS P.C., comments on an article published in the Moore American detailing an IRS announcement about its efforts to battle identity theft and tax fraud.
According to the Moore American article, a new movie called “Identity Thief” was released in theaters. The movie revolves around a man who has his identity stolen by a criminal, who maxes out his credit cards. While this movie might be fictional, the article said similar scenarios happen in real life all the time. Recently, the Internal Revenue Service (IRS) caught 389 identity theft suspects in 32 states, reports the article. Out of the nearly 400 suspects, 109 were arrested and 189 were indicted, the article said.
In the article, Steven Miller, the current IRS commissioner, said that the agency’s mission this year is to diminish tax fraud on refunds caused by identity theft. To do that, the IRS has implemented a three-part strategy. The article said, “The first part is preventing fraudsters from receiving the refund. The second part concerns how they treat victims whose refunds are caught up in the system and how fast they can get innocent people their refunds. The third piece is enforcement is and punishment.”
The article states that in the beginning of January, on the cusp of tax season, the IRS raised the total number of identity theft investigation to over 1,400. Along with catching individual criminals, the article said the IRS is looking into businesses that cash checks to make sure they aren’t promoting the notion of identity theft by handing the money over to criminals.
Long Island accountant, Jim Diapoules, of Diapoules & Feinstein CPAs P.C. responds to the article, saying identity theft is one of the biggest tax problems people face today and supports the IRS’ effort to decrease the amount of tax fraud this year.
“The benefits of new technological innovations like of electronic filing and electronic funds transfer are obvious but as usual it does not take long for certain elements to finds devious ways to exploit it. What the article does not highlight is that the victims of identity theft are usually elderly. The reason for this is that the perpetrators hope the victims either due to age or death will be unable to report the fraud. Never the less, we all have to be on our guard as the ways to exploit the system are infinite.”
Diapoules & Feinstein have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.