About
Foundational Principles In the Community Diversity, Equity & Inclusion Technical Excellence Alumni TIAG Membership
Careers
Why Cohen & Company Our Culture Total Rewards & Benefits Intern & Entry Level Opportunities Experienced Opportunities
Contact
Akron, OH Baltimore, MD Chicago, IL Cleveland, OH Detroit, MI Milwaukee, WI New York, NY Philadelphia, PA Pittsburgh, PA St. Clair Shores, MI Youngstown, OH
Client Portal
Services Industries Knowledge Center People

About Our Services

We offer tailored solutions — whether private company or owner; public or private fund, adviser or fund service provider; or Fortune 1000 enterprise. Learn how we can help you.

Learn More

Assurance Services

Employee Benefit Plan Audits Internal Controls Investment Company Audits Private Company Audits SOC Readiness & Compliance

Tax Services

Federal Tax Planning & Compliance High Net Worth & Wealth Transfer International Filings & Structuring Investment Company Tax State & Local Tax Tax Credits & Incentives Transaction Tax Planning

Advisory Services

Business Valuations Data & Insights Digital Finance Solutions IT Strategy & Implementation M&A Advisory Outsourced Accounting Solutions Risk Assurance & Advisory Transaction Services Turnaround & Restructuring

Our Industry Expertise

Our industry experience means you can find professionals who speak your language and bring earned insights to the table. Learn how we can help you.

Learn More

Key Industries

Digital Assets Investment Companies Manufacturing Private Companies Private Equity Real Estate & Construction Technology & Life Science
VIEW THE COMPLETE LIST

Knowledge Center

Our team wants to help your team stay up to date. Browse our thought leadership, events and news for insights and a point of view on business-critical topics.

Learn More

Insights

Browse valuable articles and publications our experts have written to help you and your organization answer key questions — and consider new ones.

Read Our Insights

Events

Join us in person and online for events that address timely topics and key business considerations.

Explore Our Events

News

Find out what is happening at Cohen & Company, from industry recognitions and growth updates, to where we are contributing to important media stories.

Read Our News
People
Foundational Principles In the Community Diversity, Equity & Inclusion Technical Excellence Alumni TIAG Membership
Why Cohen & Company Our Culture Total Rewards & Benefits Intern & Entry Level Opportunities Experienced Opportunities
Akron, OH Baltimore, MD Chicago, IL Cleveland, OH Detroit, MI Milwaukee, WI New York, NY Philadelphia, PA Pittsburgh, PA St. Clair Shores, MI Youngstown, OH
Client Portal
Back to Insights

Tax Identity Verification Letter Could Mean Fraud: A Checklist of What To Do

by Laura White

October 31, 2014

Did you receive a letter from the IRS (specifically LTR 5071C) or a letter from the Ohio Department of Taxation asking you to verify your identity or suggesting you may be a victim of identity theft? If so, you’re not alone.

And, in one respect, this letter is a good thing. It means that the taxing agency at hand did not in fact issue your refund to someone else, and it alerts you of the fraud so you can begin taking steps to rectify it. Many are not so “lucky.”

But with the final 2013 tax deadlines behind us, we look ahead to 2014 tax return reporting and know that fraud will continue to be a concern. Here’s what you need to know if you receive that fateful letter from the IRS, and if you have, in fact, been a victim of tax ID fraud:

  1. The IRS did not issue a refund on the fraudulently filed tax return (hence the inquiry about discrepancies and verification of identity).
  2. Consider giving your accountant a power of attorney so he or she can help you through the steps. Or contact the IRS using the phone number provided in the letter.
  3. The IRS will conduct an investigation to see who filed the fraudulent return.
  4. About two weeks from making contact with the IRS, you will receive another letter from the IRS telling you what additional steps you will need to take.
  5. You will receive a PIN from the IRS so you can e-file future tax returns.
  6. You should contact your bank and credit card companies to let them know your identity has been stolen.
  7. Report the identity theft to the Federal Trade Commission at www.consumer.ftc.gov or the FTC Identity Theft hotline at 877.438.4338 or TTY 866-653-4261.
  8. File a report with your local police.
  9. Report the incident to the fraud department of one of the three major credit bureaus. But request credit reports from each of the credit bureaus, and look over the reports to see if there is any fraudulent activity.
    • Equifax – www.equifax.com; 800.525.6285
    • Experian – www.experian.com; 888.397.3742
    • TransUnion – www.transunion.com; 800.680.7289
  10. Sign up for an ID protection service. LifeLock® and Identity Guard® are two well-known services. You will need to check the messages you receive from your service to see if there is any fraudulent activity occurring.

11. Paper file your tax return. Include the LTR 5071C on the front and mail the return with the W-2s to the following address:

Internal Revenue Service
3651 S.I.H. 35 Stop 6573 AUSC
Austin, TX 78741

If you receive a notice from Ohio stating that your identity has been stolen, here are the initial steps to take:

  1. File an Ohio Identity Theft Affidavit for all individuals listed on the Ohio form. Make sure the form is notarized and include a copy of your driver’s license.
  2. Paper file your Ohio tax return; attach the W-2s and the completed Ohio Identity Theft Affidavit form.
  3. Mail the Ohio tax return to:

Ohio Department of Taxation
Tax Technical/ID Theft Research
PO Box 182847
Columbus, OH 43218-2847

Reminders
The IRS does not request sensitive information via email. If you receive a suspicious email that states it’s from the IRS, forward it to phishing@irs.gov. And if you think your tax identity has been stolen, even without receiving a letter, contact your accountant or the IRS immediately.

We want to hear from you! We encourage you to comment below on this blog post, share it on social media or contact Laura White at lwhite@cohencpa.com or a member of your service team for further discussion.


This communication is published by Cohen & Company for our clients and professional associates. Cohen & Company is not rendering legal, accounting or other professional advice. Any action taken based on information in this publication should be taken only after a detailed review of the specific facts and circumstances.

About the Authors

Laura White, CPA

Director, Tax
lwhite@cohencpa.com
216.774.1178

Sign Up for Our Emails & Events

Receive insights from our specialists in a variety of areas and timely information on upcoming events directly to your inbox as they go live in our online Knowledge Center.

Subscribe Today
Subscribe to our newsletter
About Contact Submit RFP Privacy Policy
LinkedIn Twitter Facebook
© 2023 Cohen & Company