IRS "Beefs Up" Identify Theft Resources for Tax Professionals and Clients

The IRS has announced the launch of "Identity Theft Central", a resource designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses. The resource provides information on how to report identity theft, how taxpayers can protect themselves against phishing, online scams and more. It is located on the IRS website and is available 24/7.

The IRS, state tax agencies and the nation’s tax industry, all working in partnership under the Security Summit banner, have made substantial progress in the fight against tax-related identity theft since 2015. However, thieves are still constantly looking for ways to steal the identities of individuals, tax professionals and businesses in order to file fraudulent tax returns for refunds. As a part of the effort to help educate and improve protections for taxpayers, tax professionals and businesses, the IRS has redesigned the information into a new, streamlined page- Identity Theft Central. The following information is available to taxpayers on the page:

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  Taxpayer Guide to Identity Theft, including what to do if someone becomes a victim of identity theft.

  
  


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  Identity Theft Information for Tax Professionals, including knowing responsibilities under the law.

  
  


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  Identity Theft Information for Businesses, including how to recognize the signs of identity theft.

  
  

Moreover, the IRS has advised tax professionals and others to bookmark Identity Theft Central and check their specific guidance periodically for updates. Finally, the page features videos on key topics that can be used by taxpayers or partner groups, including a video message from the IRS Commissioner on warning signs for phishing email scams.

If you are the subject of identity theft and/or have questions or concerns regarding your tax filings, the professionals at Wilson Tax Law Group are available to assist and can be reached at 949-397-2292.

 

 

Did your business recently receive Summary of Account Notice from the FTB? Not to Worry

In late January/early February 2020, we began mailing FTB 3713 Summary of Account Payments, Transfers, and Credits to business entities who made an Estimated Tax Payment(s) or Estimated LLC Fee payment during the 2019 tax year.

This account summary provides:

• Payment

• Transfer

• Credit information

• Payment amounts and effective dates

The notification letter provides the same data available internally to FTB call center agents and proactively addresses the most common reason tax professionals contact the Tax Practitioner Hotline: calling to verify payments.

For 2020, the FTB added “This is Not a Bill” to the top of the letter for added clarity and to discourage recipients from remitting payment with the notice. Finally, payment information is also available online to businesses and their tax representatives who register for a MyFTB account.

Contact Wilson Tax Law Group at 949-397-2292 if you have IRS or FTB tax concerns.