You and your clients just turned in your tax returns. What a relief! However, something may be wrong if your return is not accepted. This could mean that you have fallen victim to identity theft. But identity theft no longer applies solely to adults- it can happen to children as well. Identity thieves can get a hold of your children’s Social Security numbers and claim them on their tax returns. The IRS will send you a notice referring to one of these things:
• More than one tax return was filed in your name.
• Your children were already claimed as dependents on a different tax return.
• You have a balance due or a refund offset, or you have had collection actions taken against you for a year in which you did not file a tax return.
• You received wages from an employer for which you have not worked.
There are easy ways to make sure that both you and your children’s identities are protected. Read the full post to find out how and what steps to take tax fraud happens to you or your clients’ families.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blogand CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
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