The Internal Revenue Service (IRS) has teamed up with its Security Summit partners to announce the commencement of a special summer campaign aimed at protecting tax professionals and their clients against the rising threats of tax-related identity theft. The “Protect Your Clients; Protect Yourself” campaign, now in its eighth year, seeks to strengthen defenses against fraudulent tax returns and raise awareness among tax professionals about the importance of maintaining strong security measures.
Importance of Tax Professional Security
According to IRS Commissioner Danny Werfel, tax professionals play a critical role in safeguarding sensitive financial and tax information. Given their tempting appeal as targets, especially smaller practices, it is essential for tax professionals to stay updated and ensure the safety of their systems. The campaign will run for five consecutive weeks, starting next week, coinciding with the IRS Nationwide Tax Forums in New Orleans.
Collaboration and Information Sharing
The Security Summit coalition, comprising the IRS, state tax agencies, and the tax community, will use the campaign to provide crucial information to tax professionals on how to protect sensitive taxpayer data and secure their businesses from identity thieves. The initiative aligns with the IRS Strategic Operating Plan, emphasizing collaboration with tax professionals and groups like the Security Summit to enhance taxpayer assistance and support national goals.
Key Focus Areas
The Security Summit campaign will focus on fundamental security measures and emerging vulnerabilities. Tax professionals are prime targets for tech-savvy criminal syndicates who either deceive or hack their way into their computer systems to access client data. Even secure platforms like the cloud can become vulnerable without robust authentication.
Protecting Against Identity Theft
Identity thieves exploit stolen data to file fraudulent tax returns, using real financial information that makes detection challenging for the IRS and states. Moreover, stolen tax preparer or taxpayer information is sold on the web, enabling other fraudsters to attempt fraudulent filings. The Security Summit was formed in 2015 to combat identity theft, resulting in significant progress and billions of dollars saved through reduced identity theft returns.
Important Steps for Tax Professionals
The summer campaign will cover key topic