U.S. House of Representatives Passes Bill That Comes Down Hard on Tax Return ID Thieves
Who says Congress doesn’t do anything? Well just about every American of voting age (Headline from August 2014 on politico.com: Poll: Congress approval hits new low).
Could the House passing H.R. 744 be a portent of things to come? Maybe, but it would be kind of like Apple donating the gross sales for iPhone 6 to charity.
In any case, if the bill passes the Senate and is signed by the President, tax return identity thieves will be facing 20 years in jail.
In her piece on thehill.com, Cristina Marcos details some of the major provisions of the legislation. The following has been excerpted from her piece and edited to fit our format. You may find the full article by clicking on this link.
Victims to include organizations
The measure would further broaden the definition of tax return identity theft victims to include organizations, instead of only individuals.
Another provision of the bill would direct the Justice Department to submit a report to Congress within 180 days on trends in tax return identity theft and recommendations on how to prosecute the crime.
Similar bill failed in 2012
The House passed a similar version of the legislation in 2012 in the previous Congress, but it never received action in the Senate.
For more on tax fraud and identity theft, please see our previous blog posting and infographic, “ThreatMetrix Tax Tips to Avoid Losing Your Identity and Uncle Sam’s Taxes to the Cyberthieves Who Stole Close to $4 Billion Last Year.”
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