Tax Security 101: Security Summit reminds professional tax preparers of data security plan requirements

Written by promotiondept

November 12, 2018

Tax Security 101: Security Summit reminds professional tax preparers of data security plan requirements

IR-2018-175, Aug. 28, 2018

IR-2018-175, Aug. 28, 2018

WASHINGTON — The Internal Service and Security Summit partners reminded tax professionals that proteing taxpayer information isn’t just good for the clients and good for business – it’s also the law.

WASHINGTON — The Internal Service and Security Summit partners reminded tax professionals that proteing taxpayer information isn’t just good for the clients and good for business – it’s also the law.

The Summit partners urged tax professionals to be aware of their obligations to prote client data and to cooperate with any IRS investigation related to data theft.

The Summit partners urged tax professionals to be aware of their obligations to prote client data and to cooperate with any IRS investigation related to data theft.

The IRS has a number of publications to tax professionals navigate tax-related rules and regulations related to proteing data. In addition, the IRS, state tax ncies and the tax industry today reminded tax return preparers that a 1999 law requires that they create and implement a data security plan.

The IRS has a number of publications to tax professionals navigate tax-related rules and regulations related to proteing data. In addition, the IRS, state tax ncies and the tax industry today reminded tax return preparers that a 1999 law requires that they create and implement a data security plan.

This is the eighth in a series called “Protect Your Clients; Protect Yourself: Tax Security 101.” The Security Summit awareness campaign is intended to provide tax professionals with the basic information they need to better prote taxpayer data and to the filing of fraudulent tax returns.

This is the eighth in a series called “Protect Your Clients; Protect Yourself: Tax Security 101.” The Security Summit awareness campaign is intended to provide tax professionals with the basic information they need to better prote taxpayer data and to the filing of fraudulent tax returns.

Although the Security Summit is making progress against tax-related identity theft, cybercriminals continue to evolve, and data thefts at tax professionals’ offices are on the rise. Thieves use stolen data from tax praitioners to create fraudulent returns that are harder to dete.

Although the Security Summit is making progress against tax-related identity theft, cybercriminals continue to evolve, and data thefts at tax professionals’ offices are on the rise. Thieves use stolen data from tax praitioners to create fraudulent returns that are harder to dete.

The Financial Services Modernization A of 1999, also known as the Gramm-Leach-Bliley (GLB) A, gives the Federal Trade Commission ity to set information safeguard regulations for various entities, including professional tax return preparers.

The Financial Services Modernization A of 1999, also known as the Gramm-Leach-Bliley (GLB) A, gives the Federal Trade Commission ity to set information safeguard regulations for various entities, including professional tax return preparers.

According to the FTC Safeguards Rule, tax return preparers must create and ena security plans to prote client data. Failure to do so may result in an FTC investigation. The IRS also may treat a violation of the FTC Safeguards Rule as a violation of IRS Revenue Procedure 2007-40, which sets the rules for tax professionals participating as an ized IRS e-file Provider.

According to the FTC Safeguards Rule, tax return preparers must create and ena security plans to prote client data. Failure to do so may result in an FTC investigation. The IRS also may treat a violation of the FTC Safeguards Rule as a violation of IRS Revenue Procedure 2007-40, which sets the rules for tax professionals participating as an ized IRS e-file Provider.

In addition, members of the IRS Eleronic Tax Administration Advisory Committee (ETAAC) in June noted that they believe “far fewer than half of tax professionals are aware of their responsibilities under the FTC Safeguards rule and that even fewer professionals …have implemented required security praices.”

In addition, members of the IRS Eleronic Tax Administration Advisory Committee (ETAAC) in June noted that they believe “far fewer than half of tax professionals are aware of their responsibilities under the FTC Safeguards rule and that even fewer professionals …have implemented required security praices.”

The FTC-required information security plan must be appropriate to the company’s size and complexity, the nature and scope of its aivities and the sensitivity of the customer information it handles. According to the FTC, each company, as part of its plan, must:

The FTC-required information security plan must be appropriate to the company’s size and complexity, the nature and scope of its aivities and the sensitivity of the customer information it handles. According to the FTC, each company, as part of its plan, must:

The FTC says the requirements are designed to be flexible so that companies can implement safeguards appropriate to their own circumstances. The Safeguards Rule requires companies to assess and address the risks to customer information in all areas of their operations.

The FTC says the requirements are designed to be flexible so that companies can implement safeguards appropriate to their own circumstances. The Safeguards Rule requires companies to assess and address the risks to customer information in all areas of their operations.

The IRS has revised Publication 4557, Safeguarding Taxpayer Data, to detail critical security measures that all tax professionals should ena. The publication also includes information on how to comply with the FTC Safeguards Rule, including a checklist of items for a prospeive data security plan.

The IRS has revised Publication 4557, Safeguarding Taxpayer Data, to detail critical security measures that all tax professionals should ena. The publication also includes information on how to comply with the FTC Safeguards Rule, including a checklist of items for a prospeive data security plan.

The IRS and certain Internal Code (IRC) seions also focus on of taxpayer information and requirements of tax professionals. Here are a few examples:

The IRS and certain Internal Code (IRC) seions also focus on of taxpayer information and requirements of tax professionals. Here are a few examples:

IRS Publication 3112 – IRS e-File Application and Participation, states: Safeguarding of IRS e-file from fraud and is the shared responsibility of the IRS and ized IRS e-file Providers. Providers must be diligent in recognizing fraud and , reporting it to the IRS, and ing it when possible. Providers must also cooperate with the IRS’ investigations by making available to the IRS upon request information and documents related to returns with potential fraud or .

IRS Publication 3112 – IRS e-File Application and Participation, states: Safeguarding of IRS e-file from fraud and is the shared responsibility of the IRS and ized IRS e-file Providers. Providers must be diligent in recognizing fraud and , reporting it to the IRS, and ing it when possible. Providers must also cooperate with the IRS’ investigations by making available to the IRS upon request information and documents related to returns with potential fraud or .

IRC, Seion 7216 – This provision imposes criminal penalties on any person engd in the business of preparing or providing services in conneion with the preparation of tax returns who knowingly or recklessly makes unized disclosures or uses information furnished to them in conneion with the preparation of an income tax return.

IRC, Seion 7216 – This provision imposes criminal penalties on any person engd in the business of preparing or providing services in conneion with the preparation of tax returns who knowingly or recklessly makes unized disclosures or uses information furnished to them in conneion with the preparation of an income tax return.

IRC, Seion 6713 – This provision imposes monetary penalties on the unized disclosures or uses of taxpayer information by any person engd in the business of preparing or providing services in conneion with the preparation of tax returns.

IRC, Seion 6713 – This provision imposes monetary penalties on the unized disclosures or uses of taxpayer information by any person engd in the business of preparing or providing services in conneion with the preparation of tax returns.

Rev. Proc. 2007-40 – This procedure requires ized IRS e-file providers to have security systems in place to unized access to taxpayer accounts and personal information by third parties. It also specifies that violations of the GLB A and the implementing rules and regulations put into effe by the FTC, as well as violations of non-disclosure rules addressed in IRC seions 6713 and 7216, are considered violations of Procedure 2007-40. These violations are subje to penalties or sanions specified in the Procedure.

Rev. Proc. 2007-40 – This procedure requires ized IRS e-file providers to have security systems in place to unized access to taxpayer accounts and personal information by third parties. It also specifies that violations of the GLB A and the implementing rules and regulations put into effe by the FTC, as well as violations of non-disclosure rules addressed in IRC seions 6713 and 7216, are considered violations of Procedure 2007-40. These violations are subje to penalties or sanions specified in the Procedure.

Many state laws govern or relate to the privacy and security of , which includes taxpayer data. They extend rights and remedies to consumers by requiring individuals and businesses that offer financial services to safeguard nonpublic personal information. For more information on state laws that businesses must follow, consult state laws and regulations.

Many state laws govern or relate to the privacy and security of , which includes taxpayer data. They extend rights and remedies to consumers by requiring individuals and businesses that offer financial services to safeguard nonpublic personal information. For more information on state laws that businesses must follow, consult state laws and regulations.

In some states, data thefts must be reported to various ities. To tax professionals find where to report data security incidents at the state level, the Federation of Tax Administrators has created a special page with state-by-state listings. To notify the IRS in case of data theft, conta local IRS Stakeholder Liaisons.

In some states, data thefts must be reported to various ities. To tax professionals find where to report data security incidents at the state level, the Federation of Tax Administrators has created a special page with state-by-state listings. To notify the IRS in case of data theft, conta local IRS Stakeholder Liaisons.

Tax professionals also can get with security recommendations by reviewing the recently revised IRS Publication 4557, Safeguarding Taxpayer Data, and Small Business Information Security: the Fundamentals by the National Institute of Standards and Technology.

Tax professionals also can get with security recommendations by reviewing the recently revised IRS Publication 4557, Safeguarding Taxpayer Data, and Small Business Information Security: the Fundamentals by the National Institute of Standards and Technology.

Publication 5293, Data Security Resource Guide for Tax Professionals, provides a compilation of data theft information available on IRS.gov. Also, tax professionals should stay conneed to the IRS through subscriptions to e-News for Tax Professionals, QuickAlerts and Social Media.

Publication 5293, Data Security Resource Guide for Tax Professionals, provides a compilation of data theft information available on IRS.gov. Also, tax professionals should stay conneed to the IRS through subscriptions to e-News for Tax Professionals, QuickAlerts and Social Media.

To improve data security awareness by all tax professionals, the IRS will host a webinar on Sept. 26, 2018. The focus will be on the same topics as this series: “Prote Your Clients; Prote Yourself: Tax Security 101.” Although tax preparers will be eligible for one CPE credit, the IRS invites others working on tax issues to attend. Proteing taxpayer information takes everyone working together.

To improve data security awareness by all tax professionals, the IRS will host a webinar on Sept. 26, 2018. The focus will be on the same topics as this series: “Prote Your Clients; Prote Yourself: Tax Security 101.” Although tax preparers will be eligible for one CPE credit, the IRS invites others working on tax issues to attend. Proteing taxpayer information takes everyone working together.


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