Treasury: Business Identity Theft Detection Can Be Improved Using Options From Individual Approach (IRC §7201)

The IRS can improve its efforts at combating business identity theft by adopting successful taxpayer detection and assistance options similar to those it provides to individual taxpayers, the Treasury Inspector General for Tax Administration (TIGTA) released Aug. 1. Such techniques include clustering filters for business ID theft detection and expanding Identity Protection Personal Identification Numbers to business taxpayers. Amid a continuing trend of improvement, during processing year 2021, the IRS used 84 selection filters, which selected for review 60,296 business returns as potentially fraudulent, TIGTA reported. The IRS agreed with TIGTA recommendations relating to clustering and IP PINs; and disagreed ...