Tag Archive: taxpayers

Where Oh Where Has My Tax Refund Gone?

Tax Refund

How long does one have to wait to receive that coveted tax refund after they have paid his Federal tax liability? When is the check going to arrive? Is the check going to arrive? Has somebody else already claimed my tax refund?

These are the questions taxpayers are asking nowadays, especially as identity thieves are stealing Social Security Numbers and other personal information from strangers. Somehow which is not quite clear at this time, these criminals are able to trick the Internal Revenue Service (IRS) into sending the refund checks to them instead of to the rightful taxpayers.

The Federal Trade Commission (FTC) reports that complaints of stolen personal information involving tax and wage related fraud have more than tripled in the last four years. There are currently over 1.4 million identity theft records in the agency’s data bank.read post here!

When much is published about a certain type of identity theft, the number of complaints diminishes. An example is the efforts of financial institutions to be more vigilant about stolen credit cards. Although there has been a little less fraud related to stolen credit cards, the crime of using stolen credit cards to run up fraudulent bills is nowhere stopped yet. Credit card identity theft is still a major cause of over 10 million cases of identity theft.

Two of the most recent causes are the stealing tax refunds and using false identities to open new accounts for utilities. It is estimated by a nationwide survey by Javelin Strategy and Research out of California that identity theft has increased 12% in the 2015.

Even though banks are now watching out for credit card fraud and replacing victims’ losses, opening new credit cards in another person’s name still makes for 13.2% of complaints. Stealing Social Security Numbers and stealing someone’s tax refund comprise 20% of stolen monies belonging to persons other than their recipients.

Interestingly, the largest volume of complaints of emanates from residents in California, Texas and Florida where illegal alien populations continue to grow. Although the FTC is working with the IRS to make consumers aware of tax refund identity theft, it is not known how helpful warnings will be, as victims are seldom aware of the theft until it has already happened.

One man reports working eight months corresponding with the IRS about his stolen tax refund. Ultimately, the man investigated the theft on his own and discovered where his refund check had been cashed. After working with law enforcement, the man tracked the thief down in another state, but, before the crook could be apprehended, he had fled the area.

This man has no idea how the crook stole his identity and refund check. In one known case, criminals set up a fake tax preparation venue, stealing clients’ Social Security Numbers and doctoring up tax return claims and had the IRS send to those criminals’ addresses.

Tax RefundOf course, if a tax refund check is delivered to your mailbox, identity thieves can easily grab it if your mailbox is not a heavy duty locking security mailbox.

There is a correlation between where the identities are stolen and the illegal alien population in those areas. Reduce the chances of tax refund fraud with a locking security mailbox and use reputable tax refund preparation services.

We can avoid becoming victims of identity theft. First and foremost, we can invest in a steel locking mailbox. Buy one of these and never again worry about mail theft or mailbox bashing.

Get Fast Tax Refund in 24 Hours

Tax Refund

Each year, a number of U.S. taxpayers around the country get tax refunds even if they build on zero income tax. This is due to deducting calculations and the earned income tax credit. Because withholding is calculated on an annually basis, an individual just entering the work force or unemployed for a long period of time will have more tax than is owed withheld.

For a greater majority, however, tax refunds are simple ‘savings’ – money that the government kept for you that you are now going to get back for use in other things. Many Americans are pleasantly surprised to receive tax refunds each year. Most people use the money to pay off debts, beef up savings accounts, and even go on vacations.

To get your tax refund you have three options. You can either let the government directly deposit your tax refund into your bank account, have a check mailed to you, or apply your refund to next year’s income tax.

Join the millions of people who have discovered how easy, online tax filing can be. The cost will be much less, your tax forms will get to the IRS with no hand-written errors, and you’ll get your tax return in as little as 10 days.

Sadly, the tax prep workers are paid a bonus at the end of the season based on the number of these ‘products’ that they sell. The managers are paid a large bonus based on the number of these products they were able to ‘push’ onto the clients who comes in. The district managers and the owners all make out like bandits because these products are so profit rich. So there is a tremendous amount of pressure on these workers to sell these ‘loans’. (The manager’s end of season cruise is counting on it) There are contests and promotions and as a result of these, I’ve seen normally good people resort to underhanded techniques to get these loans sold.

Conclusion

The tyranny of the urgent will keep these loans available as many of the IQ deficient who fill their homes with pay per week furniture and appliances and use pay check advances to ‘better’ their lives will continue to use these services. However, with a checking account, the turnaround time for a direct deposit tax refund is only about ten days. And many of these people cannot handle a checking account.view more updated blog post from http://www.theindychannel.com/news/call-6-investigators/call-6-carmel-couple-receives-tax-bill-instead-of-tax-refund

Tax RefundSometimes, the only reason a client chooses this product is that they don’t have the available cash to pay for their tax preparation immediately. And if that is the case then the use of this product is not your only option. Preparing your tax return online has become increasingly popular and costs as little as $50. There is generally no charge for direct deposits and they too, take about ten days to complete.

This is money that is supposed to be coming to you. Don’t let the slick ads dupe you of what is yours. Show a little patience and you can save a lot of money. And if you can get a better handle on your day-to-day finances, then the use of paycheck advances and rent to own furniture will not be necessary.

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