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Tax Controversy and Litigation
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Is your business at risk for tax identity theft?

Absolutely.  The IRS has made tax related identity theft a priority through prevention, detection and victim assistance programs.   There have also been several criminal prosecutions related to individual tax refund scams.   Unfortunately, fraudsters are very opportunistic and are always evolving.  Thus tax related business identity theft is increasing.  Furthermore business related identity thefts are more complex compared to individual identity theft scams and accomplished by more sophisticated fraudster’s.  Business identity theft can not only cause financial loss to the business itself but also clients and employees.

Some basic protections all businesses should implement include: purchase a shredder and have a policy to use it, invest in IT cyber security systems, keep your EIN (which is an SSN for a business) private and only provide it when required, closely monitor tax filings (a delay in a tax refund could be a problem), annually monitor your business credit file, timely update changes in business profile and update the IRS on address changes.  Warnings that your business is already in jeopardy include receiving a letter from the IRS notifying you that they already received your tax return or where several of your employees have fallen victim to identity theft.

Businesses will incur significant time and resources in resolving an identity theft. If you are a victim of tax related business (or individual identity) theft, then contacting competent and experienced counsel is advised.

Rosenberg Martin Greenberg

25 South Charles Street, 21st Floor MD 21201
Phone: 410-727-6600
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Rosenberg Martin Greenberg

705 Melvin Avenue Annapolis, MD 21401
Phone: 410-727-6600
Map & Directions