In the mid year report to Congress, National Taxpayer Advocate Erin M. Collins stated that there are significant delays for victims of identify theft, which subsequent delays on their refunds. As reported in the IR-2024-173, the average time to resolve the identify theft when up from 19 months in 2023 to 22 months in April
In early January 2024, the IRS updated the post titled Help for Victims of Ponzi Investment Schemes which makes references to the 2009 related guidance. Note that this guidance was released a year after the Bernard Madoff scandal. In a normal case scenario if you have a loss in the value of a security (capital
During the pandemic, the news and newspapers have reported billions of dollars stolen through unemployment fraud and identity theft. Axios reported, “Unemployment fraud during the pandemic could easily reach $400 billion, according to some estimates, and the bulk of the money likely ended in the hands of foreign crime syndicates—making this not just theft, but
