IRS: Thieves Obtained Information On 100,000 Taxpayers From Transcript System

IRS: Thieves Obtained Information On 100,000 Taxpayers From Transcript System

A tax transcript is a document from the IRS that shows key information from tax returns that you’ve already filed, or changes to what you and the government owe each other that may have been made after the return was filed. You can normally order them online, but the system is now closed after the IRS learned that people identified only as “thieves” accessed transcripts for about 100,000 people. [More]

(Frankieleon)

Undercover Investigation Finds Serious Problems With Paid Tax Preparers

With the deadline for filing your annual tax return coming quickly, millions of Americans are putting their 1040s and other forms in the hands of largely unregulated paid tax preparers. But a new undercover report from the National Consumer Law Center finds that many of these preparers either don’t know what they’re doing or are allowing taxpayers to file false information. [More]

(afagen)

How To Verify Your Identity In Case The IRS Suspects Suspicious Tax Return Activity

In the aftermath of revelations that fraudsters exploited TurboTax and had possibly filed bogus returns in many states, the Internal Revenue Service is contacting people linked to suspiciously filed returns, and asking them to verify their identity to find out if the return is real or not. [More]

Ex-Employees Claim Intuit Let Fraudulent TurboTax Returns Through For The Money

Ex-Employees Claim Intuit Let Fraudulent TurboTax Returns Through For The Money

Are fraudulent tax returns the fault of the IRS, or caused by a weakness in the most popular software programs that consumers use to file their taxes? Former employees of Intuit, maker of TurboTax, allege that the company prevented security staff from flagging and shutting down obviously fraudulent accounts. Why? Market share. Fraudsters were ditching TurboTax and using other tax software when the company flagged their returns. [More]

(Beth Lennon)

4 Things To Think About Before Paying Your Taxes With A Credit Card

Millions of Americans will owe the IRS anywhere from a few dollars to many thousands of dollars when they file their income tax returns, and not all of them have funds available to pay what they owe. The simple answer might be to just put that bill on your credit card, but you could end up paying a lot more than you expect. [More]

(JeepersMedia)

Lawmakers In House, Senate Investigating Fraudulent Returns Filed With TurboTax

Joining the Federal Bureau of Investigation and the Internal Revenue Service on the case of bogus tax returns filed used Intuit’s TurboTax software will now be lawmakers from both the House and Senate, who have started probing the recent flurry of fraudulent activity. [More]

(Mike Mozart)

FBI Now Investigating Possible Fraudulent Federal Tax Returns From TurboTax

Days after TurboTax resumed e-filing of all state tax returns following a third-party security expert’s finding that fraudulent activity reported by state tax officials did not result from a breach of Intuit’s own systems, federal regulators announced they would take a look for themselves. [More]

(FlyinAce2000(

TurboTax Stops E-Filing Of All State Tax Returns While Investigating Fraudulent Activity

After Minnesota state tax officials stopped taking all TurboTax e-filed returns last night and other states pressed pause as well amidst possible fraudulent activity, Intuit has announced that it’s halting all state e-filed returns while it investigates criminal attempts to use stolen data to file fraudulent returns and claim refunds. [More]

CT Tax Commissioner: Walmart Tax Refund Service Just A Lure To Get You To Shop At Walmart

CT Tax Commissioner: Walmart Tax Refund Service Just A Lure To Get You To Shop At Walmart

Walmart recently announced a service that allows consumers who use certain participating tax preparers to pick up their refunds at a Walmart store. The program already has one high-profile detractor in the form of Connecticut Commissioner of Revenue Services Kevin Sullivan who says he believes the program is intended to get consumers to spend their refunds at Walmart. [More]

(Alberto Cueto)

Beware Of Unprepared, Unscrupulous Tax Preparers

While one might assume that it requires a modicum of tax expertise and perhaps some sort of certification to be a paid tax preparer, the sad fact is that most states have little to no standards for selling tax preparation services, meaning that once again millions of Americans are being put at risk when seeking help with their tax returns. [More]

How Long Should I Hold On To My Old Bills & Other Documents?

How Long Should I Hold On To My Old Bills & Other Documents?

Thank goodness for electronic billing, bill-pay and account access. The digital world can help you save time, be more organized and cut down significantly on paper… Significantly — but not completely. [More]

10 Ways To Not Suck At Spending Your Tax Refund

10 Ways To Not Suck At Spending Your Tax Refund

Tax season is finally over, and hopefully you’re one of the lucky ones who is expecting a tax refund rather than one of those who has to send even more money to the IRS. But before you spend that money on a third 72″ LED for your yacht, there are several more sensible ways to use your refund. [More]

(Pete)

My Taxes Are Done. What Can I Throw Out Now?

Unless you filed for an extension, your tax return is now done and posted through the mail or beamed through the Interweb to the IRS and your state government, if required. That’s a relief. Now, what items in your files should you keep, and which can you throw out? [More]

(Krysten Newby)

I Give Up: How Do I File For An Extension On My Tax Return?

Humans are a procrastinating bunch. Sure, many punctual and responsible people have already filed their federal and state tax returns, especially people who are owed a refund. Not you. You’re missing an important document or are too confused about all of this stuff to stay up doing the e-filing equivalent of running inside the post office door at 11:57 PM. You give up. This post is for you. [More]

5 Things People Do On Tax Returns That Can Lead To IRS Audits

5 Things People Do On Tax Returns That Can Lead To IRS Audits

Can you smell it in the air? That’s the distinct scent of Tax Season approaching. So in these days leading up to everyone’s favorite time of year, here are some reminders about the red flags the IRS looks for when deciding whether to audit a taxpayer. [More]

Ask Tax Dad: Send Us Your Questions For Consumerist’s Tax Columnist

Ask Tax Dad: Send Us Your Questions For Consumerist’s Tax Columnist

It’s almost time for W-2s and other tax documents to start winging their way from employers to our homes, and for the anxiety-inducing yearly tax season to begin. But taxes don’t have to be scary if your dad is there to help. Or, if your own dad isn’t around or doesn’t know anything about taxes, how about my dad? [More]

When 47 States Have Stricter Regulations On Barbers Than On Tax Preparers, Mistakes Are Going To Be Made

When 47 States Have Stricter Regulations On Barbers Than On Tax Preparers, Mistakes Are Going To Be Made

If you visit a legitimate barber, hairdresser, or cosmetologist in any state in the U.S., that person will have gone through some sort of state-mandated education, testing, and licensing procedure. Yet only three states have any substantive requirements for someone employed as a tax preparer. Not surprisingly, a new report finds that this lack of quality control results in a large amount of errors, fraud, and abuse. [More]

How To Not Suck… At Getting Ready For Tax Season

How To Not Suck… At Getting Ready For Tax Season

It might seem a bit early to bring up tax returns, but this is actually the perfect time to get the ball rolling before the holiday season takes over our lives and unpleasant things like thinking about taxes get pushed off into the new year. [More]