A long running trend in the world has been a rise in identity theft. Scammers seem to be more prevalent than ever, and identity theft is one of the more common forms of con. When it comes to to taxes, scammers may use your details to steal your tax return, make accounts for illicit online transactions, or even use it to open credit cards in your name, just to name a few. As such, the IRS has started to encourage taxpayers create IRS Online Accounts.
By signing up online with the IRS you an IP PIN. The number serves as additional protection against people who wish to steal your identity. Requesting a IP PIN permits only those with the number to be able to use your SSN/ITIN. IP PINs are valid for a singular calendar year, in which they are replaced by a new one on the next year. You can see your current PIN using your IRS Online Account. If you do have an IP PIN, then you must use it when filing any federal tax returns during the year the PIN is effective. This includes if you are filling for prior years or amended returns. In addition, it should be noted that the IRS will never contact you in any way to request you IP PIN. They already know it, this is a scam.
According to The Identity Theft Research Center (ITRC), 2023 had at least 353 million individuals affected by data compromises. The Federal Trade Commission has claimed that it took over 5 million reports last year, 48% were for fraud and 19% were about identity theft. That breaks down to over 2.5 million cases of fraud and over 1 million identity theft cases. Everything else rounds to over 1.8 million reports. Identity theft and fraud are crimes that can ruin people's lives, and rob people of their sense of security. By getting an IP PIN you can secure yourself from those who seek to exploit you. As such, we recommend you get an IP PIN today.
