Tax News Hubb
Advertisement Banner
  • Home
  • Tax Rates
  • Tax Types
  • Contact
No Result
View All Result
  • Home
  • Tax Rates
  • Tax Types
  • Contact
No Result
View All Result
Wellnessnewshubb
No Result
View All Result
Home Tax Rates

Identity Theft & what the IRS is doing about it

admin by admin
August 15, 2022
in Tax Rates


As part of this ongoing effort, the IRS has implemented the Identity Protection PIN Opt-In Program. This program is designed to help protect people against tax-related identity theft. The IP PIN program is now available to anyone who can verify their identity. We encourage our clients to protect themselves through the IP PIN program.

The Electronic Tax Administration Advisory Committee, or ETAAC, last month highlighted the importance of the IP PIN to taxpayers and tax professionals.

“The IP PIN is the number one security tool currently available to taxpayers from the IRS,” the independent advisory group said in its annual report to Congress. “This tool is the key to making it more difficult for criminals to file false tax returns in the name of the taxpayer. In our view, the benefits of increased IP PIN use are many.”

For security reasons, tax professionals cannot obtain an IP PIN on behalf of clients. Taxpayers must obtain their own IP PIN.

Here are a few things taxpayers should know about the IP PIN:

  • It’s a six-digit number known only to the taxpayer and the IRS.
  • The opt-in program is voluntary.
  • The IP PIN should be entered onto the electronic tax return when prompted by the software product or onto a paper return next to the signature line.
  • The IP PIN is valid for one calendar year; taxpayers must obtain a new IP PIN each year.
  • Only taxpayers who can verify their identities may obtain an IP PIN.
  • IP PIN users should never share their numbers with anyone but the IRS and their trusted tax preparation provider. The IRS will never call, email or text a request for the IP PIN.

We encourage individual clients to consider obtaining an IP PIN. If you need assistance, please contact us or your tax advisor.



Source link

Previous Post

Either An Investor or a Dealer Be – That is the Question

Next Post

The Secret to Steer Clear of Million-Dollar Fraud? Verified Tax Data

Next Post

The Secret to Steer Clear of Million-Dollar Fraud? Verified Tax Data

Recommended

Maltese Pension Plans: The Malta/US Income Tax Treaty

4 months ago

How Do Itemized Deductions Work?

4 days ago

tax-32

© 2022 Tax News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Tax Rates
  • Tax Types
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Tax Rates
  • Tax Types
  • Contact

© 2022 Tax News Hubb All rights reserved.