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Recent Renewal Logs
5-8-2012 5:56:00 PM
Criminals who file fraudulent tax returns by stealing people's identities could rake in an estimated $26 billion over the next five years because the IRS cannot keep up with the amount of the fraud, Treasury Inspector General J. Russell George said Tuesday.
12-17-2017 2:44:09 PM
Republicans said their plan would make taxes easy to prepare, and indeed the final bill gets points for some simplification. But the whole story, like the tax code, is more complex.
12-17-2017 11:17:23 AM
Homeowners would be able to deduct interest on the first $750,000 of a new mortgage under the final tax bill -- down from the current $1 million threshold.
What is identity theft?
The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft.
The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn’t make - or until you’re contacted by a debt collector.
Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.
How do thieves steal an identity?
Identity theft starts with the misuse of your personally identifying information such as your name and Social Security number, credit card numbers, or other financial account information. For identity thieves, this information is as good as gold.
Skilled identity thieves may use a variety of methods to get hold of your information, including:
What do thieves do with a stolen identity?
Once they have your personal information, identity thieves use it in a variety of ways.
Credit card fraud:
Phone or utilities fraud:
Government documents fraud: