IRS Ill-Prepared to Face Onslaught of I.D. Theft Cases

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A recent House of Representatives subcommittee revealed that the U.S. Internal Revenue Service (IRS) is facing multiple obstacles in its efforts to detect and prevent identity theft. As reported by FCW.com, IRS officials stated that the agency’s budget and inability to properly use the data from other agencies are standing in the way of effective identity theft prevention.

During the 2012 fiscal year, Congress decreased IRS funding by 2.5 percent, totaling $350 million dollars at the same time the agency has shifted more than 3,000 employees into focusing on these crimes.

To cope with the ever-rising tide of identity theft in the United States, the IRS is calling for an increase in government funding, noting that the increase in revenue will more than make up for the costs.

IRS representatives have stated that they could issue $21 billion in fraudulent tax refunds caused by identity theft in the next five years. This means that not only is prevention critical, it’s possible that the IRS could see a return of $4 to $12 for every $1 invested for the agency’s I.D. theft prevention efforts.

Even with state and federal governments working to prevent identity theft and help victims, many victims will be unable to resolve their problem by themselves. Therefore, if you are a victim of identity theft and need help, contact Ontario I.D. theft victim lawyer Howard D. Silver. To learn more, call us at (855) 341-2611.

Posted Date: 
Wednesday, February 18, 2015
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