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Tax Pros: Is Someone Fraudulently Using Your Expired PTIN?


Published on 2024-12-10 14:00:54 - Kiplinger
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  • A PTIN is an 8-digit number assigned to tax preparers by the IRS. It serves as an official identifier, starting with the letter P, that allows the tax agency to track and regulate tax preparation activities. Those who prepare their own taxes, file joint returns, or prepare taxes for friends and family without compensation don't need a PTIN

The article from Kiplinger discusses the issue of tax professionals discovering that their expired Preparer Tax Identification Numbers (PTINs) are being used by others to file tax returns. This misuse can lead to significant problems, including potential identity theft and fraudulent tax filings. The IRS has noted an increase in such incidents, where individuals use old or invalid PTINs to prepare and file tax returns, possibly to obscure their identity or to engage in unethical practices. The article highlights the importance of tax professionals safeguarding their PTINs, even after they expire, and suggests that the IRS should enhance its verification processes to prevent such misuse. It also advises tax preparers to monitor their PTIN status and report any suspicious activity to protect their professional integrity and prevent legal repercussions.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/taxes/tax-pros-is-someone-using-your-expired-ptin ]