Protecting Your Identity This 2025–2026 Tax Season: What High-Net-Worth Taxpayers Should Know

How to recognize tax identity theft, respond to IRS notices, and protect your tax account

Tax-related identity theft continues to rise, and high-net-worth individuals remain prime targets due to complex financial lives, multiple income sources, and publicly available personal data. The good news: there are concrete steps you can take now to reduce your risk and to act quickly if a problem arises.

Why tax-related identity theft is such a serious risk

When identity theft occurs, criminals may attempt to:

• File a fraudulent tax return using your Social Security number (SSN) or ITIN
• Steal your tax refund
• Access your IRS Online Account
• Create issues for Social Security, credit bureaus, and financial institutions.

Targets of tax-related identity theft can include you, your children or other dependents, non-filers, or even deceased family members.

Steps to take now if your identity was stolen

If you believe your identity has been compromised or you are actively interacting with someone you suspect is a fraudster, act immediately:

• Stop interacting with the identity thief. Hang up. Do not send money or share personal or financial information.
• Do not click links or open attachments from suspicious emails or texts. If you already did, run antivirus software immediately.
• Update your IRS Online account password using a complex, unique password.
• Follow all IRS instructions provided in any letter, notice, or communication.
• Report identity theft and follow recovery steps at IdentityTheft.gov.
• Obtain an Identity Protection PIN (IP PIN) to secure your tax account going forward.
• Keep detailed records of IRS letters, phone calls, emails, and case numbers.
• Continue filing returns and paying taxes as usual, unless instructed otherwise by the IRS.
• Check with your state tax agency for additional steps at the state level.

Note: Additional steps may be required for specific situations such as dependent identity theft, employment-related identity theft, or identity theft involving a deceased individual.

What to do if you receive an IRS letter or notice

In many cases, the first sign of tax-related identity theft is an unexpected IRS letter or notice.

If you receive IRS correspondence, contact your Keiter client service team for guidance and assistance.

Warning signs to watch for

Not all unusual activity confirms identity theft, but each should be taken seriously:

• Your tax return is rejected from e-filing unexpectedly
• You receive a Form W-2 or 1099 from an employer you did not work for
• You receive Form 1099-G for unemployment benefits you did not apply for
• An Employer Identification Number (EIN) was issued without your knowledge
• An unreported income notice (such as a CP2000 series notice)
• Someone offers to “help” manage your IRS Online Account
• Accounts are created or accessed without your authorization
• Alerts about password resets or login verification you did not request
• A data breach exposes your personal information
• Social Security records show wages you did not earn

Prevention tips for the 2025/2026 tax season

Strong prevention remains the best defense:

• Get an Identity Protection PIN (IP PIN). This is one of the most effective tools for preventing fraudulent tax filings.
• Secure your IRS Online Account with a complex, unique password.
• Protect personal and financial information, including data related to dependents and deceased family members.
• Monitor tax, Social Security, credit, and financial accounts regularly for suspicious activity.
• Stay calm but act quickly if something seems off, delays often make resolution more difficult.

What is an IRS Identity Protection PIN (IP PIN)?

An IP PIN is a six-digit number issued by the IRS that prevents someone else from filing a tax return using your SSN or ITIN. It is known only to you and the IRS and is required to validate your identity when filing. You can think of it is a “dual-factor authorization” type safeguard.

You may obtain an IP PIN proactively—even if you have not experienced identity theft and even if you are not required to file a tax return.

Who is eligible?

• Anyone with an SSN or ITIN who can verify their identity
• Parents and legal guardians may request IP PINs for dependents

How to get an IP PIN

Visit the IRS website to create or sign-in to your ID.me account.

If online enrollment is not successful, alternative options are available, including filing an application or requesting in-person authentication. These methods take longer, so early planning is recommended.

Important IP PIN reminders

• IP PINs are valid for one calendar year only
• A new IP PIN is generated annually
• Voluntary participants must retrieve their IP PIN online each year
• IP PINs are generally available mid-January through mid-November
• IP PINs must be used for all federal returns filed during the year, including prior-year filings

Never share your IP PIN except with your tax professional as the PIN is required for successful e-file submission. The IRS will never request your IP PIN by phone, email, or text.

IRS resources

If you need assistance verifying your identity or understanding your IRS correspondence. Access the IRS resources.

Our perspective for Private Clients

Identity theft protection is no longer optional; it is a core part of responsible tax planning. We strongly encourage clients to take proactive steps, including enrolling in the IP PIN program and maintaining strong account security practices.

Keiter prioritizes the security of our clients’ data through leading edge technology and comprehensive information security services ensuring secure transmission of tax returns and documents.

If you have questions about IP PIN enrollment, responding to IRS notices, or integrating identity protection into your broader tax strategy, contact your Keiter Opportunity Advisor. We are here to help.

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