Identity theft is on the rise. That's why- starting January 2023, the IRS is rolling out their Identity Protection Pin Program. Here are the details:
What is the Identity Protection (IP) Pin Program?
IP Pin program is a new program (coming soon) where you set up a unique 6 digit pin which is used to verify your identity when you file your taxes. These extra measures are set up to protect you from thieves.
What do I need to know?
You must have either a social security number or an Individual Taxpayer Identification Number
The process is rigorous because they have to make sure of your identity to set up the pin
The pin lasts 1 year (needs to be renewed annually)
This is a voluntary program
Once set up the 6 digit pin must be included on your tax return- whether filed electronically or on paper
Never give out your 6 digit pin (the only exception is when you are working with a tax professional to file your return. Even then, only fill it in when you are ready to sign).
What do I need to do?
When the program rolls out (Jan 2023)- the easiest way to get a pin is through this page on the IRS website: GET AN IP PIN
Conclusion:
Daily life is busy enough without the added fear of people taking advantage of you. By setting up protective measures- you can get on with your life.
We've published several posts about keeping yourself safe from thieves. You may see those below in the suggested blog post section.
Stay Safe!