How to Protect Your Social Security Number This Tax Season
The Internal Revenue Service (IRS) wants to help protect you from identity theft. According to CPA Practice Advisor, all you need to do is sign up for an Identity Protection Personal Identification Number (IP PIN). The IP PIN program assigns a six-digit number to eligible taxpayers to help prevent the misuse of their Social Security Number or Individual Taxpayer Identification Number on fraudulent federal income tax returns.
The IP PIN is known only to you and the IRS. You can sign up for one on the IRS website. Applicants must pass a rigorous authentication process to ensure the IRS knows that the person asking for the IP PIN is who they really say they are. The IP PIN is only valid for one year, so you will need to reapply in 2023.
The IP PIN program was originally only available to victims of identity theft but has been expanded to everyone. It’s a great way to help protect yourself from falling victim to tax-related identity theft.
The Seniors Trust is committed to helping protect Social Security and that includes providing important information to seniors on how to protect your Social Security Number. We also want to see Congress pass The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $65 a month, a fair annual COLA, increased minimum benefits, and will ensure the long-term solvency of the Social Security program.
