If you’ve known me for a while, you know that I put a high value on risk management. This is why I love TAA, and it’s why I constantly bug you about getting a Password Manager (click here to learn more).
As we head into 2025, please consider one more risk management tool… The IRS IP PIN.
The IRS IP PIN is a free tool to prevent someone else from filing your tax return using your Social Security Number.
Yes, I know this will slow you down and add a layer of annoyance to your annual filing, but… It will be much less annoying than dealing with a fraudulently filed tax return.
Here’s a step-by-step guide for creating an IRS Identity Protection PIN (IP PIN):
Step 1: Prepare Required Information
Before starting, make sure you have:
· A photo ID (driver’s license, state ID, or passport)
· A device with photo and video capabilities (Cell phone, Tablet, Laptop)
Step 2: Access the IRS Website
1. Go to the official IRS IP PIN page: https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin
2. Click on the “Get an IP PIN” button
Step 3: Create or Sign In to Your IRS Account
- If you already have an IRS account, sign in
- If you don’t have an account, select “Create an ID.me account”
- Click here for my write-up on how to create one
Step 4: Obtain Your IP PIN
Once logged into your account, scroll to the bottom of the webpage to enroll in IP PIN.
Make sure to save this number securely. You may want to upload it to your Secure Vault (click here).
Important Notes:
- Your IP PIN is valid for one calendar year
- You’ll need to obtain a new IP PIN each year
- Never share your IP PIN with anyone except your tax preparer
- If you lose your IP PIN, you can retrieve it using the same online tool
By following these steps, you’ll enhance the security of your tax filings and help prevent identity theft. Will it be annoying? Absolutely. You should expect nothing less, but again, it is much less annoying than dealing with a fraudulently filed tax return.
Please reach out with questions!
Continue reading more of our insights by visiting our resources page. If you’re ready to see how we can partner with you on your wealth plan, please contact us today for a complimentary introductory call.