The IRS has done a praiseworthy job expanding fraud detection, according to an audit by the Treasury Inspector General for Tax Administration (TIGTA). The audit reviewed IRS tax refund fraud practices, which TIGTA calls “extremely effective in addressing the identity theft epidemic and reducing its negative impact on tax administration.” Refund fraud occurs when a taxpayer tries to evade tax owed, such as by falsely adjusting income. The IRS and its security advisors identified data elements to be used in its fraud detection filters, which succeeded in protecting roughly $18.6 million in refunds as of Dec. 2019. Still, more progress is needed. Here’s the audit: https://bit.ly/3h4mXhr Call or visit our website for more information! www.mjscpa.com/
