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
cyber Criminals

How to Stop Cyber Criminals From Stealing Your Info

How to Stop Cyber Criminals From Stealing Your Info Tax season has come and gone, and we won’t have to worry about the next one for several months. But just because you’re taking a rest from taxes, it doesn’t mean potential cyber criminals are too. Cyber criminal activity is on the rise and these scammers…

Bill Gates

Gates Not Opposed to Wealth Tax Despite Implications

There has been much chatter lately regarding a wealth tax. At least two of the leading democratic presidential candidates have discussed it, even though most wealthy Americans would likely oppose this tax. After all, why should they be punished just because they make more money? But not all wealthy taxpayers oppose a wealth tax. In…

Positive Leadership Leads to Positive Behaviors

Positive Leadership Leads to Positive Behaviors

Positive leadership is of vital importance in any organization.   However, we often focus more on the negative than the positive behaviors of others. Have you ever noticed that giving a child negative reinforcement usually results in continued negative behavior? You may get the desired result in that moment, but inevitably the child returns to the…

Mike Kwatinetz, Founding Partner at Azure Capital

Mike Kwatinetz, Founding Partner at Azure Capital

Interview Transcript of Mike Kwatinetz, Founding Partner at Azure Capital: Alan Olsen: For the listeners, can you give background on your expertise and business? Mike Kwantinetz: I’m one of the weird people in the world. So I started off and have a PhD in mathematical modeling. And then I also have an MBA in finance…