2/20/2013· Taxation
Are My Social Security Benefits Taxable? Don't be Surprised at Tax Time
By: Joseph Matheson
When it comes to retirement many Americans believe they can count on their full Social Security benefits as a core element of income.
By: Joseph Matheson
Tel: (973) 428-8885
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Identity theft remains a top priority for the Internal Revenue Service in 2014. Identity theft is one of the fastest growing crimes nationwide, and refund fraud caused by identity theft is one of the biggest challenges facing the IRS. This year, the IRS continues to take new steps and strong actions to protect taxpayers and help victims of identity theft and refund fraud.
Stopping refund fraud related to identity theft is a top priority for the tax agency. The IRS is focused on preventing, detecting and resolving identity theft cases as soon as possible. The IRS has more than 3,000 employees working on identity theft cases. We have trained more than 35,000 employees who work with taxpayers to recognize and provide assistance when identity theft occurs.
Taxpayers can encounter identity theft involving their tax returns in several ways. One instance is where identity thieves try filing fraudulent refund claims using another person's identifying information, which has been stolen. Innocent taxpayers are victimized because their refunds are delayed.
Here are some tips to protect you from becoming a victim, and steps to take if you think someone may have filed a tax return using your name:
Tips to protect you from becoming a victim of identity theft
If your tax records are not currently affected by identity theft, but you believe you may be at risk due to a lost or stolen purse or wallet, questionable credit card activity or credit report, contact the IRS Identity Protection Specialized Unit at 800-908-4490, extension 245 (Monday - Friday, 7 a.m. - 7 p.m. local time; Alaska and Hawaii follow Pacific time).
Joseph B. Matheson is a Certified Public Accountant with more than twenty-five years of public and private accounting experience. Mr. Matheson passed the CPA exam with one of the highest scores in the nation, garnering honors at both the state and national level. His knowledge and experience guarantees focus on the needs of businesses and high net worth individuals and providing litigation and forensic support to attorneys and litigants.
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2/20/2013· Taxation
Are My Social Security Benefits Taxable? Don't be Surprised at Tax Time
By: Joseph Matheson
When it comes to retirement many Americans believe they can count on their full Social Security benefits as a core element of income.
10/18/2012· Taxation
Tips to Maximize Your Mileage Deduction
By: Joseph Matheson
Each year standard mileage rates are set by the IRS. For 2012 they are:
6/29/2012· Taxation
Tax & Estate Planning: The Benefits of a Family Limited Partnership
By: ECS Financial
Years ago, a family limited partnership (FLP) was little more than a clever loophole used almost exclusively by wealthy persons. But the FLP's mystique has diminished in recent years, making it a popular and effective estate-planning tool for many.