Phil Liberatore, IRS Expert and CPA, Advises Identity Theft Victims to Hire a Tax Professional

Hiring a tax professional can significantly improve the outcome of filing taxes for identity theft victims.

LOS ANGELES, CA, UNITED STATES, July 29, 2024 /EINPresswire.com/ -- Phil Liberatore², IRS and tax expert, highlights that identity theft is a significant issue for tax filers. On average, the IRS can take years to process returns for victims of identity theft. Accounting Today reports that National Taxpayer Advocate Erin Collins noted the IRS is taking about 22 months, on average, to handle ID theft victim assistance cases. In her 2023 Annual Report to Congress, Collins found that the agency's processing time for resolving such cases at the end of fiscal year 2023 was 556 days, or nearly 19 months. However, as of April 2024, the processing time has increased to 675 days. Liberatore says hiring a tax expert can help simplify the process.

"By hiring a tax expert, victims of identity theft can save significant time and money in the long run. Professionals navigate the complexities of tax issues efficiently, ensuring accuracy and timely resolution, ultimately mitigating financial loss and stress," says Liberatore.

Liberatore emphasizes that hiring a tax expert can significantly benefit victims of identity theft by providing expert guidance and handling the complexities of tax issues. These professionals have specialized knowledge and experience in dealing with identity theft cases and can offer informed advice on the necessary steps and forms to file. They are adept at communicating directly with the IRS, a task that can be daunting and time-consuming for individuals. Tax experts ensure a smoother process by knowing the proper channels and terminology. They also assist in filing corrective documentation, such as Form 14039 (Identity Theft Affidavit), providing all required information is accurately submitted.

Additionally, tax experts can advise on measures to prevent further tax-related identity theft, like setting up an Identity Protection PIN (IP PIN) with the IRS. They play a crucial role in resolving discrepancies arising from fraudulent tax returns filed in the victim's name, ensuring the victim’s tax account is accurate and current.

“By efficiently managing the situation, tax professionals help minimize any financial damage or delays in receiving tax refunds that may result from identity theft. Ultimately, having a professional handle the situation provides peace of mind, allowing victims to focus on other aspects of recovering from identity theft,” concludes Liberatore.

Phil Liberatore, CPA, brings over 35 years of extensive experience in IRS management to the table. He has successfully helped thousands of clients resolve various IRS issues throughout his career. Liberatore’s expertise in negotiating with the IRS ensures that his clients' tax problems are comprehensively addressed. His established credibility with the Internal Revenue Service has earned him the professional respect necessary to tackle complex and straightforward IRS problems.

For more information about Phil Liberatore and his work, click here: https://cpaservicescerritos.com/

Amanda Kent
Boundless Media USA
+1 313 403 5636
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¹ https://www.accountingtoday.com/news/taxpayer-advocate-spotlights-problems-with-irs-assistance?utm_campaign=NL_ACT_Daily_Briefing_06272024&position=3&utm_source=newsletter&utm_medium=email&campaignname=NL_ACT_Daily_Briefing_06272024&oly_enc_id=3681H6296156H0X
² https://cpaservicescerritos.com/