Protections From Small Business Identity Theft

          Identity theft has been a growing source of criminal activity for many years. Unfortunately, the same can be said for businesses, especially small businesses. This information has often been used to gain fraudulent Tax Refunds or credit cards. Stealing this sort of data has essentially turned into an industry of theft.

          To combat these clever thieves, the IRS has new protection methods in place that will go into full effect next year. They are designed to spot suspicious Tax Returns, while at the same time, making sure the true Returns are processed faster. This is really an expansion of some pilot programs that were put in place 2 years ago. Last year that program was expanded, now it is going full scale, and their effects will be made known in the coming months.

          There will be a variety of new questions that will accompany a submission for a Small Business Tax Return. They will relate to different subjects including: past deductions and the person authorized to sign the Return. These changes are designed to fight the increase in this area of Tax Fraud. We at Anthony Sykes & Co are dedicated to helping small businesses. The needs in this area of Tax Law are very unique and change from year to year. We can help you understand how these new procedures will affect your business.

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