Thomson Reuters Checkpoint released a special report on Monday to highlight the prevalence of tax-related identity theft and guide practitioners representing victims.

The report is based on recent publications by the IRS which reported that identity theft is the fastest growing U.S. crime and tax refund fraud has been the most commonly reported kind of identity theft for the past five years.

“Why is tax identity theft growing so quickly?” stated Jim Keller, executive editor at Thomson Reuters Checkpoint and author of the special report. “Anecdotally, the IRS has heard of organized criminals who have given up drug trafficking to engage in the much easier, safer, and just-as-lucrative endeavor of tax refund fraud.”

The report will help practitioners and taxpayers understand trends, tax fraud schemes, and developments in identity theft, as well as: 

  • How to detect tax-related identity fraud.
  • How the IRS responds to identity theft and helps victims.
  • Steps for representing tax identity theft victims.

To download the full report, head to the Thomson Reuters site here.