Saturday, October 7, 2017

IRS identity theft pin

You may have noticed I’ve been focusing my post on protecting your identity lately. This is due to the Equifax breach which occurred in May but was not reported until September. The failure of Equifax to protect our information has the potential to be devastating for many people in months and years to come. I encourage you to take steps to protect your personal information you may want make a small investment in either credit monitoring or a credit freeze.

If you are a victim of identity theft as a result of the Equifax breach you can add another layer of protection by requesting an IRS pin. This will prevent anyone from using your personal information to file a false return in your name. The fraudulent tax return filing is made by using your name, date of birth and social security number prior to you filing for your taxes. When they request a refund they often ask for the return to be given in a pre-paid debit card. Then before you know it they have using the card well before you had a chance to file your tax return. In order to prevent this you can request an IRS pin number.

When you file a tax return your preparer or you would be required to enter a six digit pin number issued by the IRS. Should a person prepare a false tax return under your name the return will be rejected. This pin would have to be used in either in an electronic or paper tax return.

In order to request this pin you would have to request a form 14039. The form is very easy to file. They will ask you if you have been a victim of identity theft or if you have become aware of your information possibly being used for identity theft. The Equifax breach would count!! After it allows you to write up to a paragraph on how you became aware. When they receive this form you normally will get the pin in December/January. 

I hope this information is helpful as always please leave a comment

Mark Carbajal 

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