TL:DR — If you already know you want one, and you’re eligible, visit this IRS link to get your own IRS IP PIN.
This Week’s TAXES Challenge: Get an IRS Identity Protection PIN (if you are eligible)
In this world nothing can be said to be certain, except death and taxes.
-Benjamin Franklin, 1789
Getting an early start for tax day on April 15 is a great idea, and if you haven’t been in this habit, this year is a great time to start.
If you’re eligible, consider getting an IRS Identity Protection PIN (personal identification number).
Time commitment: 10 minutes to 30 minutes, max
What is an IRS Identity Protection PIN?
According to the IRS,
“The IP PIN is a six-digit number assigned to eligible taxpayers to help prevent the misuse of their Social Security number on fraudulent federal income tax returns. An IP PIN helps the IRS verify a taxpayer’s identity and accept their electronic or paper tax return. When you have an IP PIN, it prevents someone else from filing a tax return with your SSN.”
Basically, criminals have found a novel way in recent years to make money: file made-up tax returns on people, get a refund, and disappear. This makes a ton of work for the people taken advantage of. I know from my experience last year with identity theft that it is complicated to clean up, and combining it with the IRS adds an extra layer.
Why Should You Get an IRS IP PIN?
If you can get an IRS IP PIN, you should. It is a great tool in preventing identity theft.
Most of us already use tools like two-factor authentication with your phone number or an authenticator app, to protect important accounts, especially financial ones. If you have not yet done this, consider this an extra challenge this week. (Also, later this year we will cover security and how to do this, if you haven’t already).
Avoiding this issue entirely is ideal, and so when I learned about the IRS Identity Protection PIN, I was ready to sign up.
Who Should Get an IRS IP PIN?
You have to be a resident of DC or one of 19 states, mostly with larger populations, to be eligible to get a PIN. In addition, anyone in any state who has been a victim of identity theft can get a PIN.
Basically, if you are eligible, you should take a few minutes this week to obtain a PIN.
When Should You Get the PIN?
Right away.
When I first learned last year about the IRS PIN, I was ready to do it that minute! Unfortunately, the IRS had paused the program until late January, but it is now open again.
I recommend doing this ASAP so you do not have to worry about it later.
Once you are part of the program, you do not have to re-apply, and you will get a new PIN to file your taxes each year.
Where Can I Get a PIN?
The only place to get the PIN is the IRS page for the program, and to get to that IRS page, follow this link.
You will need your Social Security Number, a credit card or another way (mortgage or student loan number, etc.) to verify your identity (the IRS pulls this from your credit report), as well as a phone number.
I have done it for the members of our family, and it only took about 10 minutes per person. It is worth the time to do so. This may be one of the easiest challenges all year.
Have you gotten an IRS Identity Protection PIN?
