While not widespread, we definitely see cases of income tax identity theft each year.
The way the scam typically works is that criminals steal someone's social security number via a data breach, carelessness with personal information, or a phone scam. They then submit false information on income tax returns to generate a large income tax refund.
Eventually, enough people report the issue, hopefully the government tracks them down, and the criminals get arrested. The government is also implementing preventive measures, such as trying to do timely and better data matching with information reported on income tax returns. As long as it's an easy fraud that takes a long time to track down, criminals will continue to pursue this scam.
New Bakeries, Including Breadsmith, Coming To Wilmington
Jessica Maurer
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Feb 18, 2019
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City Council Set To Consider Castle Street Property's Future
Christina Haley O'Neal
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Feb 18, 2019
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ILM's Travelers In January Reach A Record
Christina Haley O'Neal
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Feb 19, 2019
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Publix Expected To Open In Oak Island In 2020
Cece Nunn
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Feb 19, 2019
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KWIPPED Hires Chief Growth Officer
Christina Haley O'Neal
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Feb 19, 2019
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The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.