IRS Encourages Individuals to Sign Up for An Online Account and An IP PIN

The IRS encourages individuals to set up for themselves an IRS online account. Among the reasons to establish an IRS online account are:

Accessing tax records

1. View key data from most recently filed tax return.
2. Check the status of a tax refund.
3. View digital copies of certain notices from the IRS.
4. View information about Advance Child Tax Credit payments.
5. View audit status, currently available for certain audits conducted by mail.

Make and view IRS payments.

1. Make a payment from one’s bank account or by debit/credit card.
2. View five years of payment history, including estimated tax payments.
3. Schedule and cancel future payments.
4. View pending and scheduled payments.

View or create payment plans.

1. Learn about payment plan options and apply for a new payment plan.
2. View and revise details of one’s existing payment plan.

View one’s IRS tax balance.

View the amount one owes the IRS and a breakdown by the tax year.

Manage one’s profile preferences.

1. Go paperless for certain notices.
2. Get email notifications for new account information or activity.
3. Get an Identity Protection PIN (IP PIN) – see below.

View tax professional authorizations

1. View any authorization requests from tax professionals.
2. Approve and electronically sign Power of Attorney and tax information authorization from a tax professional.

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IRS encourages all individuals to sign up for an IP PIN

For many years, the IRS has encouraged individuals to take a major step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN). The IP PIN can provide an added layer of security, helping to protect against tax-related identity theft.

An IP PIN is a six-digit number that prevents someone else from filing a federal income tax return using an individual’s Social Security Number or Individual Taxpayer Identification Number. It is a vital tool for ensuring the safety of a taxpayer’s personal and financial information. The IP PIN, known only to the individual who obtains it and the IRS, confirms their identity when the individual electronically files their tax return making it much more difficult for identity thieves to use their information fraudulently.

How to request an IP PIN

The best way for an individual to sign up for an IP PIN is through an IRS Online account (as discussed above). The process for obtaining an IRS Online account is discussed above. The process requires identity verification. Spouses and dependents can also obtain an IP PIN if they complete the required verification steps. Once an IP PIN is issued, it must be used on both electronic and paper tax returns.

To obtain an IP PIN, individuals should create or log into their IRS Online account at https//www.irs.gov and follow the steps for identity verification. Once verified, tab to request their IP PIN. IP PIN users must use this number when filing their federal tax returns for the current calendar year and any previous years filed during the same period.

For those individuals unable to create an Online Account, alternative methods are available such as in-person authentication at a Taxpayer Assistance Center.

Additional information about IP PINS

1. An IP PIN is valid for one calendar year. For security reasons, new IP PINS are generated at the beginning of each calendar year. Some participants will receive their IP PIN In the mail, while others will have to log into their Online Account to view their current IP PIN.
2. Enrolled individuals can log back into their Online Account to view their current IP PIN.
3. Individuals with an IP PIN must use it when filing any federal tax return during the year including prior year tax returns or amended returns.
4. IP PIN users should share their number only with the IRS and their tax preparation provider. The IRS will never call or email a request for the IP PIN.
5. Individuals who enrolled in the IP PIN program and have not been a victim of tax-related identity theft can opt out of the IP PIN program via their Online Account.

 

Edward A. Zurndorfer is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Life Underwriter, Chartered Financial Consultant, Chartered Federal Employee Benefits Consultant, Certified Employees Benefits Specialist and IRS Enrolled Agent in Silver Spring, MD. Tax planning, Federal employee benefits, retirement and insurance consulting services offered through EZ Accounting and Financial Services, and EZ Federal Benefits Seminars, located at 833 Bromley Street – Suite A, Silver Spring, MD 20902-3019 and telephone number 301-681-1652. Raymond James is not affiliated with and does not endorse the opinions or services of Edward A. Zurndorfer or EZ Accounting and Financial Services. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.

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Ed Zurndorfer, EA, ATA, CFP®, CLU®, ChFC®, CEBS®, ChFEBC℠: Federal Employee Benefits Expert

A former career Federal employee, Ed has published a staggering 1,200+ separate articles on Federal Benefits and Retirement!
Just “Google” his name, and you are likely to find a plethora of sites that contain his writings. Drawn to its mission to reach, teach
and serve Feds, Serving Those Who Serve is the only financial planning practice with which Ed has chosen to affiliate in over
20 years teaching. In addition to conducting Federal Benefits seminars for Serving Those Who Serve, you can find Ed’s
writings here on our blog in the FedZone, and on Fed-Soup, MyFederalRetirement, FederalNews Radio and NITP.

He is a member of the Maryland Society of Accountants, the National Association of Enrolled Agents, the International Society of Certified Employee Benefits Specialists, the Financial Planning Association, the National Association of Health Underwriters,
and the Society of Financial Service Professionals. Since 1999, Ed has taught many thousands of Federal employees about
their benefits, in person and at Federal agencies all over the country. Ed is a true national treasure.

Edward A. Zurndorfer is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Life Underwriter, Chartered Financial Consultant, Chartered Federal Employee Benefits Consultant, Certified Employees Benefits Specialist and IRS Enrolled Agent in Silver Spring, MD. Tax planning, Federal employee benefits, retirement and insurance consulting services offered through EZ Accounting and Financial Services, and EZ Federal Benefits Seminars, located at 833 Bromley Street – Suite A, Silver Spring, MD 20902-3019 and telephone number 301-681-1652. Raymond James is not affiliated with and does not endorse the opinions or services of Edward A. Zurndorfer or EZ Accounting and Financial Services. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.