Professional thief definition9/10/2023 ![]() find unfamiliar accounts or charges on their credit report.see unexplained bank account withdrawals.notice that a credit report indicates credit or other open accounts they did not authorize.receive bills for business lines of credit or credit cards they do not have.Find additional information on how to identify identity theft on the FTC website.Ĭlients may be victims of identity theft not related to tax administration if they: Identity theft not related to tax administration should be reported to the Federal Trade Commission. If these things occur, the IRS and the taxpayer will need to do some research before determining the incident is a result of identity theft. Your client’s return is accepted as an amended return, but the taxpayer has not filed a return for that year.Your client notices activity related to or receives IRS notices regarding a defunct, closed or dormant business after all account balances have been paid.Your client receives IRS notices about fictitious employees.While on the surface these occurrences may appear to indicate business identity theft, they may also stem from something as simple as transposed numbers. Many of the same indicators that signify simple filing or processing errors also hint at business identity theft. ![]() Identity theft related to tax administration:īusiness identity theft is more complex than individual identity theft. The incident may surface in different ways. Sometimes the identity theft incident is related to tax administration and sometimes it’s not. ![]() How do I know if my client’s business information has been affected? Business identity thieves file fraudulent business returns to receive refundable business credits or to perpetuate individual identity theft. ![]() What is business identity theft?īusiness identity theft happens when someone creates, uses or attempts to use the identifying information of a business, without authority, to obtain tax benefits. The following information can help you help your client navigate the process of protecting their business information from further misuse. When your client becomes a victim of identity theft, it can be very frustrating and time-consuming to resolve. Guidance for business clients who may be victims of identity theft. ![]()
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