The Solution to Tax Identity Theft: Slower Refunds
The Government Accountability Office estimates that $5.8 billion was lost to identity thieves filing fraudulent tax returns in 2013 and that there may have been as much as $24.2 billion in thwarted attempts. Tax identity theft losses are estimated to reach $21 billion by 2016, according to the Treasury Inspector General Tax Administration. While the massive loss chronicled in the GAO report was…
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