IRS Ruling A Boost For ID Theft Plans, New Revenue Stream

LOS ANGELES–ID SHIELD, through NACUSO Sponsor Bill Ferrell (LegalShield Business Solutions), announced that due to a recent ruling by the IRS regarding Identity Theft Plans  its ID Shield “full restoration” service plan can now be offered to credit union employees and members for between $1 and $3 per month on a one-to-three year contract. The IRS decision being cited found that employers who provide identity theft service plans to their employees are not to include the value of the plan in gross income reported on the employees W2’s. Nor is an employee who receives identity theft service benefits from an employer required to claim it on their tax return (W2 or 1099). “Give your members the ability to protect themselves and their families and mitigate the risk and damages from Identity Theft,” Ferrell said in a statement. “ID Shield  covers all types of identity theft and uses licensed investigators to restore your members good name and credit. (back to pre-theft status).”In addition, Ferrell said the solution can also be used to create a new revenue stream for the credit union.For info: Bill Ferrell  - BillF@CUMemberServices.com   or 818-590-1590