Saturday, February 27, 2016

IRS taxpayer data theft seven times larger than originally thought

For the second time, the IRS has revised the estimated damage of a criminal syndicate's massive theft of American taxpayer data.

In May 2015, the government agency said criminals used a tool on the IRS website to steal the tax forms of 104,000 people. Then in August, it revised that number up to 330,000.

On Friday, the tax-collection agency revealed that number is now closer to 720,000.

The latest number is the result of a nine month investigation by the U.S. Treasury Inspector General for Tax Administration.

Investigators found that "390,000 additional taxpayer accounts" were affected. Fraudsters tried to target an additional 295,000 taxpayer transcripts than previously thought, but "access was not successful," the IRS said.

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