How to Avoid A Million Dollar Tax Bill from Identity Theft
An ounce of identity theft prevention can make a huge
difference in the agony, financial ruin, & time spent
attempting to repair the damage resulting from an out
of control identity theft.
Case in point, a California woman has just recently
been reported as owing the IRS $1 million in back taxes....
on income she never even earned.....during a time she wasn't
even working at all.
It seems, an identity thief had used her social
security number (SSN) to land a job (steelworker) in
a completely different state. Additionally, that
identity thief also passed her SSN on to other thieves
resulting in her identity becoming associated with six
different companies in Texas.
As a result her bank accounts were frozen, making it
an ordeal to even buy groceries for the family. She
had to borrow money from her parents just to cover
normal living expenses as access to their earned funds
were held frozen by their bank since she could not
prove her real identity.
After a year and over 40 hours per week working with
the IRS and Social Security Administration, she finally
received an IRS letter stating she no longer was held liable
for the back taxes owed.
Her social security number (SSN), however, is still
being used illegally by identity thieves. Also, she
can not buy a house or apply for a job without
incurring significant hassles.
So, our tip for today, is to invest the small amount
of prevention needed to save you and your family an
enormous amount of personal frustration and expense
associated with identity theft.
It can materially impact your chances of not becoming
a victim like the woman that had the $1 million tax