Tuesday March 01, 2016

Thieves Nab IRS PINs To Hijack Tax Refunds

You know that IRS tool that is supposed to protect identity theft victims? Guess what? It's vulnerable to identity thieves.

The IRS’s preferred method of protecting tax refund victims from getting hit two years in a row آ— the Identity Protection (IP) PIN آ— has already been mailed to some 2.7 million tax ID theft victims. The six-digit PIN must be supplied on the following year’s tax application before the IRS will accept the return as valid. As I’ve noted in several stories here, the trouble with this approach is that the IRS allows IP PIN recipients to retrieve their PIN via the agency’s Web site.

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