From the IRS:
An identity protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number (SSN) or individual taxpayer identification number (ITIN). The IP PIN is known only to you and the IRS. It helps verify your identity when you file your electronic or paper tax return. Even though you may not have a filing requirement, an IP PIN still protects your account.
From the IRS:
An identity protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number (SSN) or individual taxpayer identification number (ITIN). The IP PIN is known only to you and the IRS. It helps verify your identity when you file your electronic or paper tax return. Even though you may not have a filing requirement, an IP PIN still protects your account.
TAX CUTS AND JOBS ACT
On December 22, 2017 President Trump signed into law the "Tax Cuts and Jobs Act" bill. While the bill that was passed through Congress is expansive, we have identified a few online resources to assist you in understanding the changes in an easy-to-read way:
26 Ways the GOP Tax Reform Will Affect Your Wallet
What the Tax Reform Bill Means for Individuals
The GOP Tax Bill Repeals Obamacare's Individual Mandate. Here's What That Means for You
Starting in 2017, W-2s and 1099s (for 2016) will now be due to both the recipients and the government by January 31, 2017. Formerly, the government copies were due at the end of February or March, depending on the submission method. Penalties will be assessed on each return filed late, from $50-$260 per recipient, based on the date received.
Now is the time to make sure all subcontractor, independent contractor, and contract or temporary labor information is up-to-date in your files and that you have a correct address and federal ID number for each. This applies to anyone who provides a service to your company, whether on a job site or at your place of business. This also applies to any payments for rent or legal services. This information should be obtained by receiving a completed Form W-9 from the individual or business before they begin work for you.