Hey everyone, it’s Bette Hochberger, CPA, CGMA here. As we approach the 2025 tax season, the IRS has released an important reminder for taxpayers: signing up for an Identity Protection Personal Identification Number (IP PIN) can be a vital step in safeguarding your personal and financial information. This simple yet effective measure can help thwart tax-related identity theft, a growing concern in our increasingly digital world.
What is an IP PIN?
An IP PIN is a six-digit number assigned to eligible taxpayers that serves as an additional layer of security for filing federal tax returns. This unique number is known only to the taxpayer and the IRS, ensuring that even if a thief has access to your Social Security number or Individual Taxpayer Identification Number, they cannot use it to file a fraudulent return. By confirming your identity through the IP PIN, you can significantly reduce the risk of someone else misusing your personal information for tax fraud.
Why You Should Sign Up Now
The IRS is urging all taxpayers to sign up for an IP PIN before November 23, 2024. After this date, the IP PIN system will undergo maintenance and will not be available until early January 2025. By signing up early, you will be equipped with your new pin in time for the 2025 tax filing season, allowing you to electronically file your returns with peace of mind!
The process to obtain an IP PIN has been streamlined through the IRS Online Account. This user-friendly platform not only lets you sign up for a pin but also makes it easy to manage your tax information securely. Creating or logging into your Online Account allows you to complete the identity verification process necessary for obtaining your IP PIN. It’s worth noting that spouses and dependents can also request an pin, provided they complete the verification steps.
How to Request Your IP PIN
To get started, visit IRS.gov and either create a new account or log into your existing one. After verifying your identity, navigate to the profile tab to request your IP PIN. It’s essential to use this pin when filing your tax returns—both for the current year and for any amended returns from previous years. This requirement ensures that your filings are secure and legitimate.
For those who may find it challenging to create an Online Account, the IRS offers alternative methods of obtaining a pin, including in-person authentication at a Taxpayer Assistance Center. Detailed instructions on these options can be found on the IRS website, specifically in the section dedicated to IP PINs.
Important Considerations
It’s crucial to remember that an IP PIN is valid for one calendar year, and new pins are generated at the beginning of each year. Participants may receive their new pins by mail or may need to log in to their Online Account to retrieve them. Taxpayers must treat their IP PIN with the utmost confidentiality, sharing it only with authorized individuals such as the IRS and their tax preparation provider. The IRS will never request your pin via phone, email, or text, so remain aware against potential scams.
If you have previously enrolled in the IP PIN program but have not been a victim of tax-related identity theft, you have the option to opt out via your Online Account.
As we gear up for the 2025 tax filing season, taking proactive measures to protect your identity is more important than ever. By signing up for an IP PIN and utilizing the IRS Online Account, you can ensure that your personal information remains confidential and secure.
As always, stay safe, and I’ll see you next time!
