While Congressional inaction around Social Security number reform jeopardizes our future financial well-being, federal agencies' needless exposure of our Social Security numbers practically guarantees financial insecurity now.
The IRS has reported that it blocked $20 billion in tax refunds from bogus tax claims last year -- $6 billion more than the year before. What the figure really means is that more and more identity fraudsters fancy their chances against the IRS.
Many identity thieves will pose as the IRS using emails, websites and even phone calls to get personal information from taxpayers who are only too willing to give up that information to avoid a fallout with the IRS. Luckily, the IRS is actually on your side.
Treasury estimates that the IRS could issue $21 billion to identity thieves over the next five years. For those those of you who are more visual, that's $21,000,000,000. Still need help? Consider the following.
I'll wager that when most brides and grooms utter the phrase, "For better or for worse," the "worse" they're imagining probably involves situations like getting laid off or a prolonged family illness -- not being the victim of tax fraud perpetrated by a current or former spouse.