So, this is a good step among many in trying to reduce the ease of identity thieves obtaining your tax ID number. But it is not enough. Consider the following:
- Unlike truncating on receipts for credit or debit card purchases, truncating tax IDs on payee statements is optional, not mandatory.
- Experts estimate that the easiest numbers of your SSN to figure out are the first 5, not the last 4.
- It does nothing about the trillions of documents of all sorts that exist that have people's SSNs on them. People save old W-2s and tax returns (even those more than four years old), employment papers, etc. Often, these get tossed without removing the SSNs.
What more do you suggest?
Also consider state laws - tax and non-tax. Many states have laws restricting use of secure information, such as Social Security numbers on documents.
What do you think?