The Internal Revenue Service is taking further steps to combat identity theft, including issuing proposed regulations that allow taxpayers to truncate the identification numbers on some tax documents they file.
The American Institute of CPAs applauded the IRS’s proposed regulations, which would make permanent a pilot program to authorize filers of certain information returns to truncate an individual payee’s nine-digit identifying number on specified paper payee statements (see IRS Pilot Program Allows Truncating Payee Numbers). But it would like the IRS to go even further and allow the use of truncated Social Security numbers on all types of tax forms and tax returns provided to a client.
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