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William Perez

Your Social Security Number May Be Truncated

By November 24, 2009

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Taxpayer's Social Security Numbers or Employer Identification Numbers may be truncated to just the last four digits on 1099 series forms issued for years 2009 and 2010. The Internal Revenue Service is launching a pilot program (Notice 2009-93) designed to help combat identity theft, and financial institutions and other businesses that send out tax documents in the Form 1098 series, Form 1099 series or Form 5498 series can participate. Truncated numbers will appear on statements issued to taxpayers; institutions are still required to report the full taxpayer identification number on forms sent to the IRS for processing.

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