June 2023

What to do in the event of tax identity theft?

Tax identity theft occurs when an identity thief files a fraudulent return using a stolen taxpayer’s social security number to claim the victims tax refund. The thief would use the victims personal and consumer information to file the forged tax return, usually early in the filing season before the victim files themselves. This way, the scammer would likely receive the victims refund before the IRS processes the real filing. They might invent fake wages to submit the information electronically. 

Married Filing Jointly vs Separately

Married taxpayers, who were married on the last day of the tax year, have two filing status options when it’s time to file their annual tax return. The best choice varies depending on each couple’s individual needs.

Married filing jointly offers lower tax rates, but filing separately may be more beneficial depending on the couple’s individual situations.

So, which filing status is best for you? 

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