Victims of IRS Identity Theft-The Dilemma of Obtaining a Loan

A fraudulent tax return was filed for a refund which created a conundrum for my client when he applied for a business loan. He owes what is considered a ‘’large dollar” amount to the IRS.  A fraudulent return was filed – IRS applied the amount to a prior year tax balance for which my client had an installment agreement.  The fraudulent refund was enough to pay off that year.  Subsequently, once the IRS realized the refund was fraudulent; the amount was reversed, and the original tax balance was restored.  Now, I understand this was the correct IRS procedure, but the IRS computer defaulted his installment agreement; although, he is paying… Read More

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