Steps Victims Can Take to Minimize Effect of Data Theft

Every day, the theft of personal and financial information puts people at risk of identity theft. Generally, thieves try to use the stolen data as quickly as possible to:

Sell the information to other criminals
Withdraw money from a bank account
Make credit card purchases
File a fraudulent tax return for a refund using victims’ names

Three Things to Remember about Hobby Income and Expenses

From scrapbooking to glass blowing, many Americans enjoy hobbies that are also a source of income. A taxpayer must report income on their tax return even if it is made from a hobby.