September 27, 2018
In a move to better protect taxpayer data the Internal Revenue Service is revising the format of taxpayer tax transcript that will partially redact certain identifying information. The new tax transcript will be available to the taxpayer or tax professionals beginning on September 23.
The IRS is making these changes because the tax transcript has become a sought after document by identity thieves. This is because in order to try and get past the IRS fraud filters the identity thieves need to create a return that looks like what the taxpayer has filed in the past. Therefore the criminals are attempting to pose as taxpayers or tax preparers in order to obtain the tax transcripts for prior year returns of individuals.The new format of tax transcripts will now partially redact the following identifying information:
The new tax transcript will include all money amounts, including balance due, interest and penalties.
The IRS has also created a new Customer File Number that lenders, colleges and other third parties that order transcripts for non-tax purposes will use as an identifying number instead of the taxpayer’s SSN.
For more details see the following of the IRS website:
IRS Identity Theft Resources
February 19, 2020
Kiddie Tax Change and Form 8615
February 12, 2020
IRS Expands Their Identity Protection PIN (IP PIN) Program
January 23, 2020
2019 Federal Return and the Affordable Care Act
January 3, 2020
Extender and Disaster Tax Relief Provisions Included in the 2020 Consolidated Appropriations Legislation
December 27, 2019
Reminder of 2019 Federal Tax Changes
December 11, 2019