Tax Technology

Practical Data Security Resources

The IRS recently reported (IR-2017-176) a 30% decline in confirmed identity theft returns from 2016 to 2017 and a 40% reduction in taxpayer self-reported identity theft (http://bit.ly/2xQTuR4). Still, the heavy reliance on technology for data processing, which requires the use of employer identification numbers and Social Security numbers, creates the opportunity for identity theft. As taxpayers and businesses await the consequences of the Equifax data breach that occurred in May–July 2017 (and was reported in September), CPAs can avail themselves of practical, proactive resources to assist taxpayers, companies, and their own firms to create strong defenses against information thieves. Two great places to start are the Taxing Subjects blog and the Federal Trade Commission’s Business Center.

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