January 8, 2016
As if dealing with identity theft isn’t enough, the IRS released a statement earlier this week informing taxpayers that if they received an IP PIN letter dated January 4, 2016 they are to use the PIN provided to file their 2015 taxes, not for filing 2014 as the letter indicated.
Victims of tax related identity theft rely on an Identity Protection PIN issued by the IRS to verify a taxpayer’s identity and, subsequently, accept their tax return. Without an accurate IP PIN the IRS will reject any electronically filed returns and will delay the processing and potential refund from paper filed returns.
The IRS has said that the issue did not affect anything else involving the IP PIN process; the PIN is good, it is just the wrong tax year listed. Keep this PIN located in a safe place; you will need it to complete your tax preparation.
If you have any questions, please do not hesitate to contact the office at 541.388.7888.
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The IRS requires you to keep your records that support an item of income or deduction on a return until the period of limitations for that returns runs out. The period of limitations is the period of time in which you can amend your return to claim a credit or refund, or the IRS can assess additional tax.
Period of Limitations: