In today’s digital age, protecting your personal information is more crucial than ever, especially during tax season. One of the most effective tools offered by the IRS to safeguard taxpayers against identity theft is the Identity Protection PIN (IP PIN). This six-digit code, unique to each individual, helps prevent thieves from using your Social Security Number to file a fraudulent tax return in your name.
What Is an IP PIN?
The IP PIN is a six-digit number that the IRS assigns to a taxpayer to protect their tax return from identity theft. If you have an IP PIN, the IRS will use it to verify your identity for your tax return, ensuring that no one else can file using your Social Security Number (SSN).
Without an IP PIN, a fraudster could attempt to submit a return with your SSN, which could lead to delayed refunds and a complex process to rectify the situation. Once the IP PIN is in place, even if a criminal obtains your SSN, they won’t be able to file a valid tax return without that specific IP PIN.
Who Should Consider Getting an IP PIN?
Initially, the IRS provided IP PINs only to taxpayers who had experienced identity theft. However, recognizing the importance of proactive security, the IRS now allows any taxpayer who can verify their identity to apply for an IP PIN. This means that if you want extra security for your tax information, you can choose to get an IP PIN, regardless of any past identity theft incidents.
Those most likely to benefit from an IP PIN include:
- Individuals with a history of identity theft or data breaches
- People with significant public profiles who may be targeted for financial scams
- Anyone looking for an added layer of protection to secure their tax information
How to Obtain Your IP PIN
- Visit the IRS IP PIN Application Page: Go to the official IRS website’s IP PIN application page here to start the process.
- Create an IRS Account: You will need to set up an IRS account if you don’t already have one. Be prepared to verify your identity by providing your SSN or Individual Taxpayer Identification Number (ITIN), a recent tax return, and financial account information. The IRS uses multi-factor authentication for added security.
- Complete Verification: Follow the steps outlined on the site to verify your identity and obtain your IP PIN. The process typically takes only a few minutes.
- Renew Annually: The IP PIN is valid for one year. Each year, you’ll receive a new IP PIN, which ensures that your account remains secure.
Tips for Safeguarding Your IP PIN
Once you have your IP PIN, it’s essential to keep it safe:
- Store it securely: Only keep it in places where it won’t be accessible to others.
- Do not share your IP PIN: The IRS will never ask for your IP PIN via phone, email, or text.
- Monitor your IRS account: Regularly review your tax transcripts and IRS account for any unauthorized activity.
Benefits of an IP PIN Beyond Identity Protection
In addition to preventing fraud, obtaining an IP PIN can streamline tax processing by minimizing the need for identity verification. If the IRS receives a return without your unique IP PIN, they’ll automatically reject it, which helps reduce the likelihood of errors or misfiled returns.
A Proactive Step Toward Peace of Mind
Taxpayers across the country have successfully used the IP PIN as an additional shield against fraud and identity theft. Taking a proactive approach to your tax security is one of the best decisions you can make during tax season. To learn more about the IP PIN and start the process, visit the IRS IP PIN page today.