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.
Under the plan, the government would also limit access to Social Security Administration files on deceased individuals that have been used by those seeking fraudulent refunds. Instead, the files that the SSA compiles would be available immediately only to those who legitimately need the information for fraud prevention purposes. All other users would have to wait three years for access.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 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.
