Thieves Steal Confidential Taxpayer Info Via IRS Website

Just when you thought you were safe to access important and confidential information via the IRS website, it turns out scammers are at it again. According to reports from the IRS, thieves have managed to break into one of the government agency’s website services and steal the confidential information of thousands of taxpayers.

In fact, according to reports, the IRS says that the personal information of more than 100,000 taxpayers has been compromised. The idea behind the scam is to steal people’s private information in order to use the victims’ identities to then file false tax returns. The scam occurred through the IRS’s “Get Transcript” service, where taxpayers are able to access their returns and other filings from prior tax years. 

According to IRS Commissioner John Koskinen these scammers are not amateurs. They appear to part of a large criminal syndicate that is attacking the entire financial industry in an effort to defraud both taxpayers and the government of millions.

The IRS discovered the issue after technicians noticed a large bump in the number of taxpayers that were asking for transcripts. While this kind of elaborate tax fraud continues to increase, the IRS claims that so far this year tax scammers have successfully claimed less than $50 million via false tax returns. However this new threat appears to very complex and the information that has been stolen could also be used in future tax seasons to defraud the IRS and taxpayers out of even more money.

Posted in
THE PYRAMID: ORDERING YOUR INVESTMENT OBJECTIVES

The Pyramid: Ordering Your Investment Objectives

The Pyramid: Ordering Your Investment Objectives Investment planning is not like trying to win the lottery — it’s not a matter of luck.   Crafting an investment strategy requires an assessment of resources, development of objectives, analysis of choices and opportunities, and, finally, matching of those alternatives to long-term goals. 1. Safety and security of…

Why I Didn't Accept Venture Capital

Why I Didn’t Accept Venture Capital

Venture Capital Financing: Structure and Pricing “Financing a venture can be structured using one or more of several types of securities ranging from straight debt to common stock.” Introduction Types of Securities Disadvantages of Debt to a Company Advantages of Debt to a Venture Capitalist Percentage Ownership Needed Case Studies Conclusion Introduction A venture financing…

Approaching “Star Trek” Like Medical Technology

Episode Transcript of: Approaching “Star Trek” Like Medical Technology Alan Welcome back. I’m here today with Joe DeLuca. He’s the founder of healthcare investment vision USA. Joe, welcome to the show. Joseph Thank you. Good to be back. Alan So for, for the listeners sake, and we really appreciate you coming back and returning actually,…

Corporate Governance | Dr. Douglas Y. Park

Stanford’s Entrepreneurship | Douglas Y. Park

Stanford’s Entrepreneurship | Douglas Y. Park Transcript: Unknown Speaker 0:00 Welcome to American Dreams keys to success with your host, Alan Olsen. Welcome Alan 0:05 back. We’re here today with Dr. Douglas Park. He practices slot remote attorneys and teaches classes and entrepreneurship at Stanford University. Welcome to today’s show, Doctor, Douglas 0:17 thank you…