The Internal Revenue Service, in collaboration with its partners from state tax agencies and the tax industry nationwide, has officially declared a special week dedicated to raising awareness among taxpayers and tax professionals about safeguarding sensitive financial information from identity theft. This initiative is particularly crucial as the holiday season approaches and the 2024 tax season looms.
The 8th annual National Tax Security Awareness Week is scheduled to take place from November 27 to December 1. This event is part of an ongoing campaign led by the Security Summit, a coalition established in 2015 that includes the IRS, state tax administrators, tax software companies, the tax professional community, and other stakeholders in the broader tax community. The primary objective of the Security Summit is to combat tax-related identity theft through enhanced collaboration between the public and private sectors, reinforcing internal protective measures, and raising awareness about security threats.
As the holiday shopping season kicks off and the tax season draws near, the Security Summit partners are urging both taxpayers and tax professionals to adopt additional precautions to shield their financial and tax-related information during this critical period. With the holiday season in full swing, there is an increased risk of identity theft, as criminals intensify their efforts to deceive individuals into divulging sensitive personal details through various channels such as email, text messages, and social media. This stolen information can be exploited by identity thieves to file fraudulent tax returns and steal your clients’ refunds.
Identity thieves are desperate for you and your client’s sensitive data which is why the IRS has devised the “Security Checklist,” to help protect you and your clients’ data from falling into the wrong hands.
The majority of cyberattacks are aimed at small businesses with fewer than 100 employees. The 8th Annual IRS Security Summit, taking place this week, has published these 4 tips to help tax professionals protect themselves and their clients from cyber crime.
Protecting the sensitive data of your clients and employees is the largest priority of any tax professional/ entrepreneur. Finding the right resources to help you ensure this safety shouldn’t be difficult. If you found the information in this blog helpful for protecting your clients’ sensitive information from cyber criminals then consider signing up below to receive email alerts whenever a new blog gets published on our website!