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Tax refund fraud 60 minutes

tax refund fraud 60 minutes

That was up 60 percent company raffle donations from year ago levels.
The average annual cost of cyber crime to.S.
2013 CBS Interactive Inc.File your returns early: This is not always feasible, but the thinking is that it limits the opportunity for fraud in the current filing period.A consumer website called GoBankingRates estimates that some.2 billion freebies for college students 2015 in tax refunds have been stolen so far this year.The perpetrators even have online support groups (as described by Brian Krebs last year ) in which to share tactics.I could wake up in the comfort of my own home, and just get on a laptop, do about 15 returns a day.Sadly, convictions are not a strong enough deterrent for some people.Tax and wage identity theft occurs in numerous ways, says Steven Toporoff, attorney with the Federal Trade Commission.This PIN is then required on any tax return you file.If accurate, that's likely to be just the tip of the iceberg.Income tax rates percent finance cuts IRS 1040 hike generic return iStockphoto (MoneyWatch) There may be a compelling argument for filing your tax return early this year.Although the percentage that is withheld can be adjusted by the wage earner, many Americans use a default rate which results in overpayment of taxes.
They then direct the IRS or state treasury departments to pay the refunds into their own accounts, collecting as much.2 billion in fraudulent payments.