Flood of Fake Federal and State Tax Returns Filed: Experts

A criminal group has submitted thousands of fraudulent state and federal tax returns in an effort to steal sizeable tax refunds before taxpayers can claim them, NBC News reported Monday. "This is potentially the most serious breach of personally identifiable information in the history of our country," the CEO for government solutions at LexisNexis told NBC News. Armed with stolen identity information like Social Security numbers and gross income, the thieves can file the bogus returns and claim the refund check before before taxpayers file their legitimate ones.

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