Later this month, the IRS will be sending letters out to approximately 250,000 taxpayers that contains their 6-digit “Identity Protection PIN.” Taxpayers will receive this letter because they have informed the IRS that they were the victims of identity theft which the IRS has confirmed after reviewing documentation provided by the taxpayer.
The Identity Protection PIN must be entered on the affected taxpayer’s Federal return in order to avoid a delay in processing the return and receipt of their refund.
If you learn that one of your customers has been a victim of identity theft, you should ask them if they received a letter from the IRS. If they have, ask them to bring it with them when they come in to have their 2011 Federal return prepared.
Click here to continue reading the entire CrossLink Tax Update which includes detailed information on things to know about the Identity Protection PIN as well as how to inform the IRS of an affected taxpayer's identity theft if it has not previously been reported.
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