Thursday, March 26, 2015

Even more Turbo Tax Fraud

The Washington Post is reporting that some taxpayers have had the refund stolen after filing their tax return. 


"Michelle Quinn filed her tax return in January and got the good news that she was due a refund of about $8,000.

But days after the refund was supposed to arrive, the 33-year-old mother of three still didn’t see the cash in her bank account. When Quinn logged onto TurboTax, she learned that her refund had in fact been deposited — into someone else’s bank.

Quinn is the victim of a form of tax-related identity theft that fraud experts say is uncommon. Most people find out they’re victims after their tax returns are rejected because someone else has already filed in their name. But Quinn’s refund was stolen after she filed her return and the IRS accepted it. Before her refund was deposited, someone changed the bank account information.

Between 24 and 40 taxpayers had their refunds stolen this way, according to Intuit, the maker of TurboTax, and Green Dot Corporation, a bank that works with tax-preparation firms to issue refunds. Like Quinn, all of the customers had elected to have their filing fees pulled from their refunds through what’s called a refund transfer. About two dozen of those customers used TurboTax."



Read more by clicking on this link. 

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