Larry Gibbs Quoted Regarding Identity Theft Provisions of Baucus's Proposal in Bloomberg

"Baucus Seeks ID Theft Prevention with Tax Preparer Rules"
Bloomberg
11.20.13Larry Gibbs was quoted regarding Senate Finance Committee Chairman Max Baucus's proposals to impose tougher penalties and make other changes to assist the IRS in dealing with identity theft and refund fraud as part of the Senate Finance Committee's tax reform proposals for tax administration that were announced on Wednesday, November 20. As a part of some of the largest proposed changes to the tax code since 1986, Baucus's proposal addresses some of the problems resulting from the 78 percent increase in identity theft and refund fraud cases in fiscal year 2012. Gibbs, a former Commissioner of the Internal Revenue Service (IRS), said that the tax system became more vulnerable to fraud as a result of the growth in refundable tax credits. "Identity theft and refund fraud is the most significant compliance enforcement issue that the IRS has to deal with now," he said. "You're basically dealing with hard-core crooks."
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