Wed, December 11, 2024
Tue, December 10, 2024
[ Tue, Dec 10th 2024 ]: MoneyWeek
The top stocks in the FTSE 100

Tax Pros: Is Someone Fraudulently Using Your Expired PTIN?

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. omeone-fraudulently-using-your-expired-ptin.html
  Print publication without navigation Published in Business and Finance on by Kiplinger
  • 🞛 This publication is a summary or evaluation of another publication
  • 🞛 This publication contains editorial commentary or bias from the source
  • 🞛 This publication contains potentially derogatory content such as foul language or violent themes
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 ]