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Tax Pros Must Take Steps to Protect Data from Cybercriminals | Business

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Tax Pros Must Take Steps to Protect Data from Cybercriminals
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More and more, cybercriminals target tax professionals looking to access taxpayer data. These criminals use the information to file fake tax returns. Many tax pros think it can’t happen to them, but it can – and it does. The IRS reminds all tax preparers they have a responsibility to protect and secure sensitive data.

To prevent data theft, the IRS partnered with state tax agencies and members of the tax industry to create the Security Summit. Through this partnership, they are fighting identity theft. While they make progress, criminals need more data to file fraudulent returns. This in turn makes tax professionals, payroll professionals, and employers targets of identity thieves.

Security Summit partners remind tax professionals to take all possible steps to secure data. They can:

  • Visit the Protect Your Clients; Protect Yourself page where the IRS posts alerts.
  • Review the Don’t Take the Bait page to find steps taxpayers can take to recognize common criminal tactics.
  • Check out Small Business Information Security: The Fundamentals. The National Institute of Standards and Technology issues this publication.
  • Review Publication 4557, Safeguarding Taxpayer Data. This pub provides a check list that tax preparers can use to for create a security plan.
  • Protect their e-Services account password, Electronic Filing Identification Number, and Preparer Tax Identification Number from theft.
  • Earn continuing education credit for taking qualified courses on data security.
  • Subscribe to e-News for Tax Professionals or to Quick Alerts.

Visit the IRS on social media – @IRStaxpros on Twitter and Facebook.com/IRStaxpros.

This information is not intended to be a substitute for specific, individualized tax advice as individual situations will vary.  Royal Alliance Associates, Inc., Georgetown Capital and its advisors are not engaged in rendering tax advice.

These links are provided as a convenience and for informational purposes only. We assume no liability for any inaccuracies, errors or omissions in or from any data or other information provided on the pages, or for any actions taken in reliance on any such data or information.

Prepared by the IRS.  For more information go to www.irs.gov.

Securities and investment advisory services may not be available in all states.

Representatives offer Securities and Advisory Services through Royal Alliance Associates, Inc., member FINRA/SIPC and a registered investment advisor.

Insurance services offered through Georgetown Capital Group, which is independent of Royal Alliance Associates, Inc. with separate ownership, and is not registered as a broker-dealer or investment advisor.

 Joseph V. Curatolo, President of Georgetown Capital Group

5350 Main Street, Williamsville, NY 14221

Phone #(716) 633-9800  Toll Free 1 (800) 648-8091  Fax #(716) 633-9789

www.georgetowncapital.com

 

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