In cases of identity theft, the IRS issues taxpayers an
Identity Protection Personal Identification Number (IP PIN). The IP PIN does not prevent the filing of multiple returns by identity thieves using the legitimate taxpayer’s TIN, but it:
- Allows the legitimate taxpayer’s return to bypass the identity theft filters;
- Prevents fraudulent returns from being processed; and
- Minimizes taxpayer burden associated with the potential delays caused when a return unposts because it failed one or more of the filters and required manual review.
Select taxpayers will receive a notice in mid-November notifying them that they will be receiving their IP PIN. Taxpayers will receive a second notice in December, which will contain the IP PIN.
This IP PIN is only good for the current year and a new number will be issued each year. The IP PIN must be reported on the Form 1040. Form 1040 will contain a series of six boxes next to the spouse’s occupation line for the IP PIN. If the taxpayer loses their IP PIN, the IRS will NOT provide them with a copy of the number.
It is important to know that Power of Attorneys (POA) will not be able to obtain or request their client’s IP PIN. Tax professionals should NOT print the IP PIN on paper tax returns used as records. More information can be found at Understanding Your LTR4868CS Letter.
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Source:
Read more at: Tax Times blog
