If you receive a CP301 Notice from the IRS, it means that you have set up online access with the IRS. If you did NOT do that, then you must call the IRS immediately at 1-888-841-4648 to DISABLE THE ONLINE ACCESS account.
The IRS online access was hacked about two months ago, so the IRS disabled the ability to get transcripts of your income tax return information downloaded through the online access account. However, a transcript can still be ordered this way, and it will come to you by snail mail to your address of record.
There are now only two other reasons for setting up the Online Access account with the IRS: to set up a payment plan or to get a PIN to e-file your tax return. This second reason, to get a PIN to e-file your tax return, is the PROBLEM right now. It means someone else can e-file a fake tax return in your name and claim refunds for direct deposit into an account that probably won’t exist later when the fake tax return is discovered.
So if you receive this CP301 Notice of setting up an online services account with the IRS, and you did not do so, IMMEDIATELY call the IRS and get the account disabled. Unfortunately, it will take at least 45 minutes on hold to get through to the IRS as they do not have enough staff to cover such calls.