WASHINGTON (AP) — The 2014 budget proposal to be released by the White House on Wednesday will include new steps to combat what the Internal Revenue Service says is an exponential growth in tax refund-related identity theft.
A preview of the measures provided by administration officials Tuesday includes increasing criminal sentences for those convicted of tax-related identity theft and creating new civil penalties for those who file fraudulent returns.
The IRS would be able to assess a $5,000 civil penalty for each incidence of identity theft.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.