On April 12, 2011, NY1 reported a major loophole in the IRS e-filing system which allows identity thieves to steal the income tax refunds of unsuspecting taxpayers. The current e-filing system only requires an individual to provide either a Social Security Number (SSN) or Employer Identification Number (EIN) as proof of identity. Unfortunately, many EIN numbers can be accessed online, affording Identity thieves the opportunity to illegally acquire an individual's EIN number, input false data, and electronically file tax returns even before unsuspecting taxpayers receive their W-2 forms.
Posted by Eric Adams on Monday, October 31st, 2011
Senator Adams joined the New York State Black, Puerto Rican, Hispanic and Asian Legislative Caucus and a coalition of elected officials and union leaders gathered on the steps of City Hall in support of extending the millionaires' tax in New York. The millionaire's tax will increase the tax for individuals whose annual income exceeds $250,000. With a budget gap in the billions, New York State is facing steep reductions in addition to the dramatic cuts over the last three years in education, health care and transportation.