and Your Taxes
identity theft occurs when someone uses your stolen Social
Security number to file a tax return claiming a fraudulent
It presents challenges to
individuals, businesses, organizations and government
agencies, including the IRS.
Learning that you are a victim of identity theft can be a
stressful event and you may not be aware that someone has
stolen your identity. In many cases, the IRS may be the first
to let you know you're a victim of ID theft after you try to
file your taxes.
The IRS combats tax-related identity theft with a strategy of
prevention, detection, and victim assistance. The IRS is
making progress against this crime and it remains one of the
agency's highest priorities.
Here's what you should know about identity theft:
Protect your Records. Do not carry your Social Security
card or other documents with your SSN on them. Only provide
your SSN if it's necessary and you know the person requesting
it. Protect your personal information at home and protect your
computers with anti-spam and anti-virus software. Routinely
change passwords for Internet accounts.
Don't Fall for Scams. The IRS will not call you to
demand immediate payment, nor will it call about taxes owed
without first mailing you a bill. Beware of threatening phone
calls from someone claiming to be from the IRS. If you have no
reason to believe you owe taxes, report the incident to the
Treasury Inspector General for Tax Administration (TIGTA) at
Report ID Theft to Law Enforcement. If your SSN was
compromised and you think you may be the victim of tax-related
ID theft, file a police report. You can also file a report
with the Federal Trade Commission using the FTC Complaint
Assistant. It's also important to contact one of the three
credit bureaus so they can place a freeze on your account.
Complete an IRS Form 14039 Identity Theft Affidavit.
Once you've filed a police report, file an IRS Form 14039
Identity Theft Affidavit. Print the form and mail or fax it
according to the instructions. Continue to pay your taxes and
file your tax return, even if you must do so by filing on
Understand IRS Notices. Once the IRS verifies a
taxpayer's identity, the agency will mail a particular letter
to the taxpayer. The notice says that the IRS is monitoring
the taxpayer's account. Some notices may contain a unique
Identity Protection Personal Identification Number (IP PIN)
for tax filing purposes.
IP PINs. If a taxpayer reports that they are a victim
of ID theft or the IRS identifies a taxpayer as being a
victim, they will be issued an IP PIN. The IP PIN is a unique
six-digit number that a victim of ID theft uses to file a tax
return. In 2014, the IRS launched an IP PIN Pilot program. The
program offers residents of Florida, Georgia and Washington,
D.C., the opportunity to apply for an IP PIN, due to high
levels of tax-related identity theft there.
Data Breaches. If you learn about a data breach that
may have compromised your personal information, keep in mind
not every data breach results in identity theft. Further, not
every identity theft case involves taxes. Make sure you know
what kind of information has been stolen so you can take the
appropriate steps before contacting the IRS.
Report Suspicious Activity. If you suspect or know of
an individual or business that is committing tax fraud, you
can visit IRS.gov and follow the chart on How to Report
Suspected Tax Fraud Activity.
Combating ID Theft. Over the past few years, nearly
2,000 people were convicted in connection with refund fraud
related to identity theft. The average prison sentence for
identity theft-related tax refund fraud grew to 43 months in
2014 from 38 months in 2013, with the longest sentence being
27 years. During 2014, the IRS stopped more than $15 billion
of fraudulent refunds, including those related to identity
theft. Additionally, as the IRS improves its processing
filters, the agency has also been able to halt more suspicious
returns before they are processed. So far this year, new fraud
filters stopped about 3 million suspicious returns for review,
an increase of more than 700,000 from the year before.
Service Options. Information about tax-related identity
theft is available online. The IRS has a special section on
IRS.gov devoted to identity theft and a phone number available
for victims to obtain assistance.
In addition, if you have any questions about identity theft
and your taxes, you can always call the office. Help is just a
phone call away.
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or check us out at our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,