April 2, 2024

How to Shield Your Tax Returns from Scammers

Show Notes
Transcript

This episode of “Let’s Talk About Scams,” host Joyce Petrowski, founder of R.O.S.E. Resources/Outreach to Safeguard the Elderly, dives deep into the IRS Identity Protection PIN—a powerful tool in the fight against tax-related fraud. With fraudulent tax returns causing a staggering $6 billion in losses annually, the IRS introduced this PIN to safeguard taxpayers' refunds. Join Joyce as she guides you through the application process, emphasizing the importance of the PIN for anyone who files tax returns. Whether you've been a victim of tax return fraud or simply wish to protect your financial future, this episode is packed with actionable advice to secure your tax refund from the prying hands of scammers. Fortify your defenses against tax-related scams and ensure your financial security. Key Episode Takeaways:

The IRS Identity Protection PIN is a critical measure against fraudulent tax returns.
Taxpayers can apply for the PIN via an online tool, requiring identity verification to ensure security.
The PIN is valid for one year, with a new one issued annually for continued protection.
Applying online offers immediate receipt of the PIN, whereas mail applications take 4-8 weeks.
Importance of keeping the PIN confidential to prevent unauthorized use by scammers.

Key Resource Mentioned: https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin Remember, knowledge is power—subscribe to "Let's Talk About Scams" podcast to stay updated on ways to safeguard your well-being against scams. Share what you've learned with your loved ones and stay vigilant. Stay safe and informed! Visit https://www.roseadvocacy.org/ for additional resources and newsletters to safeguard against scams. Disclaimer: The information contained in this podcast is intended for informational purposes only and is not a substitute for individual professional/legal advice. The podcast information was carefully compiled from vetted sources and references; however, R.O.S.E. Resources/Outreach to Safeguard the Elderly cannot guarantee that you will not fall victim to a scam.

WEBVTT

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Welcome to Let's Talk About Scams. I'm your host, Joyce Petrowski,

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founder of Rose Resources Outreach to Safeguard the elderly. You

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can find more information and resources on our website at

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Roseadvocacy dot org. You can sign up for our newsletters.

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We send one an email and one in the mail,

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and our social media links are at the top of

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the page. And you're going to want to click the

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subscribe button because you're not going to want to miss

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an episode of Let's Talk About Scams. So today I

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want to talk to you about the IRS Identity Protection PIN.

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So what's what is this PIN? So there's been so

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many fraudulent tax returns that have been filed, and I

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think the IRS has estimated there's about six billion dollars

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a year in fraudulent tax refunds. They came up with

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this PIN and you have to apply for it unless

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you've been a victim of the tax return fraud. Then

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they'll automatically assign it to you. But if you haven't

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been a victim, you'll need to go on to the

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IRS online tool and we'll have that website in the

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show notes. But you go on that and you going

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to need your SOL Security number and you can apply

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for this IRS Identity Protection pin. You have to go

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through an identity verification process, which is a good thing

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because you don't want somebody calling or somebody pretending to

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be you on this online tool and just getting this PIN.

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So you do need to go through an identity verification process. Now,

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if you do this online, you can get your PIN

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the same day, sometimes even within an hour or two.

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But you can also do it by sending it in

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the mail. Now that process is going to take about

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four to eight weeks, so if you can do it online.

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I know it's already the beginning of April, but if

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you haven't filed your tax return yet, please go online

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and get this PIN, because once you have this PIN,

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your tax return cannot be filed unless you put that

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PIN number in there. And it doesn't matter if you

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file your tax return online or if you file it

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in the mail. You have to include this identity protection pin.

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And the PIN is only good for one year, which

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is another good thing because the longer you have the PIN,

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the more chance the scammer might be able to get

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to it. So it's a great thing that the IRS

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automatically reissues you a new one every year, and if

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you've misplaced your PIN or you don't remember it, you

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can get onto that online tool and you can find it.

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So please make sure to do this because scammers are

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out there. They're filing fraudulent tax returns, and if they

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file a fraudulent tax return in your name before you

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file your tax return, they're going to get they're going

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to get your refund. And then you go to file

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your tax return and you get a notice saying, wait

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a minute, there's already a tax that you've already filed

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your tax return and we've already issued the refund. We

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can't accept this return now. If that happens, you can

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work with the IRS to show them that that first

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return was a fraudulent return, but that takes time and

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your refund might get you might not see that refund

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for six to twelve months. So this identity protection PIN

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is a safeguard for you, and you need to make

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sure that this is personal, confidential information and you don't

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share that PIN with anybody. Okay, So to recap on this,

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you're going to want to get online and the IRS

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online tool we're going to have in the show notes.

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But if you don't find it. If you don't see

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it there, you can just get on the IRS Verified

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IRS website and you can search Identity Protection PIN and

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you should come up to that tool and apply online

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if you can, because you can get your PIN within

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a few hours versus ending it in the mail could

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take four to eight weeks. And it's a safeguard, and

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you cannot file your tax return unless that PIN is

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included with your tax return, So it's a safeguard from

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having fraudulent returns filed in your name and then slowing

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up the process for you to get your refund. So

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even if you've already filed your tax return this year,

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because I know it's the beginning of April, you can

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still request one and have it for next year. But

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if you haven't filed your taxes yet, get that PIN

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number to help safeguard your return. Okay, So thank you

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for joining me today, and you can visit our website

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at Rosadvocacy dot org and find more resources. Sign up

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for our newsletters and you'll find our social media links,

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and don't forget you're going to want to click subscribe

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so you don't miss an episode of Let's talk about scams,

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and you're going to want to share this information with

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your family and friends because we want everyone to safeguard

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their tax return and their tax refunds. If you have

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a subject that you're need more information on regarding scams

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or how to protect yourself, right into us at info

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Atrosadvocacy dot org and let us know and we'll see

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if we can't get that on another episode. All right,

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until next time, thank you,

How to Shield Your Tax Returns from Scammers

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