Protecting Yourself From IRS Related Scams

During tax season, the news is full of stories of scammers filing tax returns and stealing individuals and businesses tax refunds.  The scammers use basic information about you to file the fake return and you don’t know this until you try to file your return and it is rejected.  This starts a very long process of proving you are you and getting your money.  It can take years.

To protect yourself from these scams, the IRS provides two tools:

IRS Online Account
Everyone that files taxes should have an on-line IRS account.  Even if you don’t need it right now, it prevents anyone else from setting up an account in your name and controlling all your information.   An ID.ME account is used to sign into the IRS site.  If you already have one, you are ready to go.  If not, the IRS site will direct you where to get one.  The IRS web site is https://www.irs.gov/

IP Pin
An IP Pin is a unique 6-digit number that you use when you file your taxes.  Once you have a Pin, you cannot file your taxes without it.  The IRS will send you a new number each year and you or your tax preparer will use it.  If you file on line, the software provides a place to enter it.  If you file on paper, the Pin is entered on the signature line.

For more information on the IP Pin, see the IRS Site  https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin

Schreiber Accounting and Advisory has significant experience preparing all types of personal and business taxes.  If your organization needs the assistance of a qualified CPA firm, contact the firm for more information.

Material discussed is for informational purposes only. It is not to be interpreted as investment, tax, or legal advice. Individual situations vary, and this information should only be relied upon when coordinated with individual professional advice.