Do You Know That Business’s Suffer From Identity Theft Also?

Business tax identity-theft refund fraud continues to be a growing problem. This occurs when fraudsters use stolen or fabricated employer identification numbers to fill bogus corporate and payroll tax returns and other forms to claim false refunds.

The Service has steps that businesses can take to safeguard their own data and those of their customers. See IRS Pub. 4557 on how to create a data security plan. Also review “Start with Security: A Guide for Business” from the Federal Trade Commission.

If you suspect your business may be a victim of identity theft, complete a paper IRS Form 14039-B, Business Identity Theft Affidavit.

Kiplinger Tax Letter
October 2020