As a tax practitioner, you have a legal obligation to protect your client’s information. That means taking all the necessary measures to make sure that the information you’re given is safe from cybercriminals. The IRS recently sent out information on how to do so through their Don’t Take the Bait campaign, a 1o part series that provides security tips to tax preparers. “More and more, we see the data held by tax professionals being targeted by national and international criminal syndicates that are highly sophisticated, well-funded and technologically adept. No tax practitioner today can afford to ignore cybersecurity threats or overlook putting in place strong safeguards.” – IRS Commissioner John Koskinen. Your Legal ObligationsIf you handle taxpayer information, you may be subject to the Gramm-Leach Bliley Act (GLB Act) and the Federal Trade Commission (FTC) Financial Privacy and Safeguards Rules. That means you must take the following steps to protect taxpayer information.
For more information, check out IRS Publication: Safeguarding Your Taxpayer Data. IRS TipsThe IRS recommends reading up on Publication 4557 and NIST’s Small Business Information Security. Here are their tips for protecting clients and businesses from cybersecurity threats. Identify:
Protect:
Detect:
Respond:
Recover:
Now is a great time to look over your protocols before tax season. Protecting taxpayer information should be top of mind as cybersecurity threats continue to increase. In addition to protecting client information, you should also make sure you’re covered in the event of a data breach. More great reads: Tax Scam Roundup: Know What You’re Up Against The Common Denominator in Most Tax Scams from http://www.theincometaxschool.com/blog/protect-clients-cybersecurity-threats/
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