Theft Loss Archives - John R. Dundon II, Enrolled Agent
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Theft Loss

Your vehicle was hit by hail and the insurance company agreed to compensate you $4,600 AND allow you to keep the vehicle AND not issue you a salvage title.  In most situations this is non reportable.  However not always.  This may be reportable on IRS...

Taxpayers need to be careful to protect their personal information. Identity thieves use many methods to steal personal information and then they use the information to file a tax return and get a refund. Here are 10 things the IRS wants you to...

Victims of investment schemes or fraud may find themselves under the casualty loss rules, rather than using the net capital loss rules to salvage their position. Sec. 165(e) allows reporting a deduction for theft losses in the year in which a "reasonable taxpayer" discovers that...

1. If you receive a letter or notice from the IRS which leads you to believe someone may have fraudulently used your Social Security Number, respond immediately to the name and address or phone number printed on the IRS notice. 2. If you receive a letter...

The IRS has created a special unit if you or your clients believe you are the victim of identity theft. The hotline provides assistance for individuals who believe they may be a victim of identity theft with no known tax administration impact and those who...

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