Identity Theft: What if it happens to you?

At the end of 2012 there were nearly 650,000 identity theft cases on record by the IRS.  Often you may be unaware that you are a victim until you file a tax return and receive a notice from the IRS that more than one return was filed in your name.  If such a notice is received, you should call the IRS at 800-908-4490 as soon as possible.  You will be asked to complete the IRS Identity Theft Affidavit which will help to resolve the issue by providing an alternative PIN number to be used if you decide to electronically file your return.  You should also:

• Place a fraud alert on your credit reports and review your current credit report.
• Contact the Social Security Administration.  They will review your records to ensure that your earnings are correctly posted on your Social Security Statement.

Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. The firm provides tax planning for individuals, corporations, trusts and estates that are seeking effective strategies to keep more of what they’ve earned. We also prepare all types of tax returns, including individuals, businesses, gifts and estates, trusts, nonprofits and foundations.For more information please call 802.878.1963 or email [email protected].

To learn about what you should do to help protect yourself from being a victim of identity theft, please visit the “Resources” of our website and select the “Identity Theft” white paper:  http://www.dh-cpa.com/white-papers.html.