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What You Need To Know About Identity Protection Program

What You Need To Know About Identity Protection Program

WHAT'S AN IRS IP PIN?

The simply means the Identity protection pin. It is a unique six-digit number assigned to every taxpayer, to help curb the misuse of their social security number on any fraudulent federal income tax returns. The IRS designed this number to bring a total stop to fraudulent activities as regards to the annual tax refund.

WHAT DO I NEED IP PIN FOR?

You need an IP PIN to verify your identity with the IRS. The IP PIN is also useful in submitting a paper or electronic tax return to the IRS. With the IP PIN, it is impossible for someone else to file a tax return using your SSN.

If perhaps an e-return is filled using your SSN with an incorrect IP PIN. The IRS will reject it until you submit your correct IP PIN. When a return is filed on paper with correct SSN but with an incorrect IP PIN, the IRS will delay the processing. This is to protect and clarify that the rightful owner of the return is the one claiming it.

WHO IS QUALIFIED TO HAVE AN IRS IP PIN?

You become qualified to have an IRS IP PIN if :

1. You filled a tax return last year, while you were a resident of Rhode Island, Maryland, California, Georgia, Michigan, District of Columbia, Nevada, Florida, Delaware or Georgia.

2. The IRS sent you a CP01A Notice containing your IP PIN or

3. You received an IRS letter inviting you opt-in so you can get an IP PIN

THREE STEPS TO TAKE TO GET MY IP PIN

1. If you've lost your IP PIN and you are yet to receive a new one, then contact the IRS.

2. If you've received a CP01A notification in January, your IP PIN is always located at the bottom column of your notification letter.

3. If you were residence in any of these states last year Nevada, Rhode Island, Michigan, Georgia or District Of Columbia, Maryland, Illinois, Florida, California, Delaware. You are obliged to participate in the IP PIN by going to apply for your IP PIN. The program is not only designed for Identity theft victim only.

WHAT DO I NEED TO DO WHEN I GET  MY IP PIN FROM IRS?

You must make sure you keep the pin safe and remember it always. Do not save your IP PIN on your phone, do not write it and keep it in your purse or wallet, do not write it where a third party can easily see. Once you have your IP PIN, you must input the pin on all federal tax returns 1040 PR/SS and 1040 and all other tax returns filed during the current financial year.

NOTE:

  • You can use your IRS IP PIN on any state tax return.
  • Do not reveal your unique IP PIN to anyone unless your tax preparer. You can only reveal this IP PIN when you are ready to sign and submit your federal income tax return.

WHAT HAPPENS WHEN I FILE MY TAX RETURN WITHOUT THE IP PIN ASSIGNED TO ME BY THE IRS?

  • Your tax return will be scrutinized to confirm the identity of the person filing the return, which translates to a delay in your tax refund.
  • If you fail to input the IP PIN, your E-return will be rejected, and you won't be able to e-file.
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