2 Methods for Signing Individual Income Tax Returns Electronically

 

 

STATEN ISLAND, N.Y. – Do you know how to sign an electronic individual income tax return?

To provide taxpayers with an understanding of how this modern-age signature is applied, Victory State Bank, the only community-based business bank on Staten Island, is sharing the following information from the IRS:

As with an income tax return submitted to the IRS on paper, the taxpayer and paid preparer (if applicable) must sign an electronic income tax return.

Taxpayers must sign individual income tax returns electronically. There are currently two methods for signing individual income tax returns electronically: Self-Select PIN and Practitioner PIN. Each of these methods is described within this article.

Taxpayers must sign and date the Declaration of Taxpayer to authorize the origination of the electronic submission of the return to the IRS prior to the transmission of the return to IRS.

The Declaration of Taxpayer includes the taxpayers' declaration under penalties of perjury that the return is true, correct and complete, as well as the taxpayers' Consent to Disclosure.

The Consent to Disclosure authorizes the IRS to disclose information to the taxpayers' Providers.

Taxpayers authorize Intermediate Service Providers, Transmitters and Electronic Return Originators (EROs) to receive from the IRS an acknowledgement of receipt or reason for rejection of the electronic return, the reason for any delay in processing the return or refund and the date of the refund.

An ERO is the Authorized IRS e-file Provider that originates the electronic submission of a return to the IRS. The ERO is usually the first point of contact for most taxpayers filing a return using IRS e-file.

Taxpayers must sign a new declaration if the electronic return data on individual income tax returns is changed after taxpayers signed the Declaration of Taxpayer and the amounts differ by more than either $50 to "Total income" or "AGI," or $14 to "Total tax," "Federal income tax withheld," "Refund" or "Amount you owe."

ELECTRONIC SIGNATURE METHODS

There are two methods of signing individual income tax returns with an electronic signature available for use by taxpayers. Both methods allow taxpayers to use a Personal Identification Number (PIN) to sign the return and the Declaration of Taxpayer.

Self-Select PIN is one of these methods. The Self-Select PIN method requires taxpayers to provide their prior year Adjusted Gross Income (AGI) amount or prior year PIN for use by the IRS to authenticate the taxpayers. EROs should encourage taxpayers who do not have their original prior year AGI or PIN to seek that information from the preparer or software they used last year.  If they are unable to attain the AGI from those sources, the taxpayer should access Get Transcript on IRS.gov and order a transcript to obtain the AGI.

This method may be completely paperless if the taxpayers enter their own PINs directly into the electronic return record using key strokes after reviewing the completed return. Taxpayers may also authorize EROs to enter PINs on their behalf, in which case the taxpayers must review and sign a completed signature authorization form after reviewing the return. Also see IRS e-fileSignature Authorization below.

Practitioner PIN is the other method and it does not require the taxpayer to provide their prior year AGI amount or prior year PIN. When using this method, taxpayers must always appropriately sign a completed signature authorization form.

Taxpayers, who use the Practitioner PIN method and enter their own PINs in the electronic return record using key strokes after reviewing the completed return, must still appropriately sign the signature authorization form.

Regardless of the method of electronic signature used, taxpayers may enter their own PINs; EROs may select and enter the taxpayers’ PINs; or the software may generate the taxpayers’ PINs; in the electronic return. After reviewing the return, the taxpayers must agree by signing an IRS e-file signature authorization containing the PIN.

The following taxpayers are ineligible to sign individual income tax returns with an electronic signature using the Self-Select PIN:

  • Primary taxpayers under age sixteen who have never filed; and
  • Secondary taxpayers under age sixteen who did not file the prior tax year.

EROs should advise taxpayers to keep a copy of their completed tax return to assist with authentication in the subsequent year.

For more information about filing taxes, you may visit the IRS online.

 

 

ABOUT VICTORY STATE BANK

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island, including the main office in the community of Great Kills and branches in West Brighton, St. George, Dongan Hills and Rosebank.

A planned sixth branch, to be situated in Meiers Corners, has received both regulatory and building department approvals.

For additional information, Victory State Bank may be reached at 718-979-1100, or visited online at www.VictoryStateBank.com.

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