Is the IRS successfully combatting business identity theft? The Treasury Inspector General for Tax Administration (TIGTA) recently took a look. In an audit, TIGTA reported that progress is being made by using filters to detect potential fraud, plus conducting prompt reviews of business tax returns with high-dollar refunds. However, it added: “TIGTA continues to believe that a pre-refund process is needed to prevent the issuance of potentially fraudulent refunds.” TIGTA would also like to see fraud detection improve by giving businesses tools similar to what individual taxpayers have. For example, a business version of Identity Protection ID numbers. Here’s the audit: https://bit.ly/3CaHQoZ
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