Do you get a new IP PIN every year? If you are a taxpayer in the United States, the answer is most likely yes. The IP PIN, or Identity Protection PIN, is a unique, six-digit number issued by the Internal Revenue Service (IRS) to help prevent tax-related identity theft. This article will delve into the purpose of the IP PIN, how it is issued, and the importance of keeping it updated every year.
The IP PIN program was introduced by the IRS in 2011 to protect taxpayers from identity theft. Identity theft occurs when someone uses your personal information, such as your Social Security number, to file a fraudulent tax return. By assigning a unique IP PIN to each taxpayer, the IRS can verify the authenticity of the tax return and ensure that it is filed by the legitimate taxpayer.
How is the IP PIN issued?
The IRS issues the IP PIN to taxpayers who have been victims of identity theft or who are at a higher risk of becoming victims. Taxpayers who have had their identity stolen in the past or who have had their tax return information compromised may receive an IP PIN. Additionally, the IRS may randomly select taxpayers to receive an IP PIN as part of its efforts to prevent identity theft.
To obtain your IP PIN, you can follow these steps:
1. Visit the IRS website at irs.gov.
2. Navigate to the “Get an IP PIN” page.
3. Enter your Social Security number, filing status, and mailing address.
4. Click “Submit” and follow the prompts to receive your IP PIN via email or mail.
Why is it important to keep your IP PIN updated every year?
Keeping your IP PIN updated is crucial for several reasons. Firstly, it ensures that your tax return is processed accurately and efficiently. If you do not use your current IP PIN, the IRS may flag your return as suspicious, leading to delays in processing or even rejection.
Secondly, an outdated IP PIN can make you vulnerable to identity theft. If someone obtains your old IP PIN, they could use it to file a fraudulent tax return in your name. By updating your IP PIN every year, you reduce the risk of falling victim to tax-related identity theft.
Lastly, maintaining an updated IP PIN is a simple yet effective way to protect your financial and personal information. The IRS constantly works to combat identity theft, and keeping your IP PIN current is one of the steps you can take to ensure your tax information remains secure.
In conclusion, if you receive an IP PIN from the IRS, it is essential to keep it updated every year. This unique number serves as a crucial tool in preventing tax-related identity theft and protecting your financial well-being. By staying informed and proactive, you can help safeguard your tax information and ensure a smooth tax filing process.
