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The extra security layer that can save you time and hassle next year is available to taxpayers who are planning to file early.
The Internal Revenue Service (IRS), on Thursday, reminded taxpayers of the scheduled maintenance that will take place between Saturday and early January 2025. A six-digit IP PIN protects the taxpayer from someone else filing a federal income tax return with their Social Security Number, Taxpayer Identification Number, or other identifying number.
IRS will accept electronic second dependent claims
The IRS will begin accepting electronically filed tax return from taxpayers who have dependents already claimed by another taxpayer. This is true as long as that second filer holds an IP PIN. The IRS could make it easier to file for the tens and millions of Americans each year who claim Earned Tax Credit or Child Tax Credit.
In years past, the IRS would require the paper return to be filed by the second filer. Taxpayers without an IP PIN will be rejected this year if they e-file a claim for a dependent already claimed by another tax payer. This could delay any refunds that may be due.
The IRS says that IP PINs are usually received in four to six weeks. Those planning to file later in the tax season can wait until this system is online again and avoid any delays. IP PINs can take up to four weeks to arrive, according to IRS. Even so, there are many reasons to file early. You can get your refund quicker, for example. IRS usually begins the tax season accepting tax returns by January.
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