IRS Health Care Tax Tips and Reminder about the Premium Tax Credit for 2014 Returns
March 5, 2014
Federal Appeals Court Rules Against IRS on Regulation of Tax Return Preparers
February 19, 2014
Additional Tax (Penalty) for Not Having Health Insurance for 2014
February 12, 2014
New IRS Get Transcript Online Tool and Reminders of Other Useful IRS Tools
January 29, 2014
Identity Protection PIN for the Upcoming 2013 Filing Season
October 17, 2012
The IRS is expanding the number of taxpayers who will receive an Identity Protection Pin
(IP PIN) for the upcoming season. All taxpayers that have had an identity theft indicator applied to their IRS tax account will receive an IP PIN that must be included on their 2012 Federal income tax return. This means that approximately 600,000 taxpayers will receive an IP PIN for the upcoming filing season.
The affected taxpayers will receive their IP PIN in a notice (Notice CP01A) from the IRS in December 2012. This notice will include their 6-digit IP PIN and information on the use of the IP PIN.
If you know that any of your customers have been the victim of identity theft you may want to inform them that they will be receiving this notice in December. They will need to keep it and bring it in with the rest of their tax information when they come to have their 2012 income tax return prepared.
Other changes to the IP PIN program that you need to know:
- If the taxpayer was issued an IP PIN they must include it and have it entered correctly on their 2012 Federal return or the IRS will reject their return. The inclusion of the IP PIN will allow the return to be processed normally and will not delay their refund.
- If the taxpayer loses the notice that includes their IP PIN they can call the IRS Help Desk. Once they have authenticated who they are, they will be issued with a replacement IP PIN.
- This replacement IP PIN will allow the taxpayer to electronically file their return; however, the return will still be looked at by the IRS to ensure it is the taxpayer’s return. This may delay the processing of their return.
- Only the Primary’s IP PIN should be entered on the 2012 tax return.
- The Identity Protection PIN received by the taxpayer in December is only valid for use on their 2012 return.
- When the IP PIN is entered in the CrossLink program, it will be transmitted to the IRS as part of Form 1040. It will also print on Form 1040 in the area designated for this purpose in the signature area.
See the Understanding Your CPO1A Notice for more information about the IRS Identity Protection PIN and the wording of Notice CP01A.
Also, visit the IRS Identity Protection PIN Frequently Asked Questions page for more information.