Tax Security 2.0 – A “Taxes-Security-Together” Checklist – Step 4 http://accountinginstruction.info/ IRS, states and industry offer tips to tax professionals on spotting signs of client data theft WASHINGTON — The Internal Revenue Service and its Security Summit partners today urged tax professionals to learn the tell-tale signs that their office may have experienced a data theft that resulted in fraudulent tax returns being filed in their clients’ names. The IRS, state tax agencies and the private-sector tax industry, working together as the Security Summit, warned practitioners that global criminal syndicates remain active, and they are well financed, high skilled and tax savvy in their attempts to gain sensitive tax data. The reminder came as the IRS and the Summit partners encouraged tax professionals to take time this summer to review their data security protection. To help the tax community, the Summit partners offered a new “Taxes-Security-Together” Checklist as a starting point. “Learning the signs of identity theft is critical for anyone handling taxpayer data,” said IRS Commissioner Chuck Rettig. “It can be as subtle as an unusually slow computer system or as obvious as multiple clients unexpectedly receiving the same IRS notice. Paying attention to these details is critical, and fast action alerting the IRS and calling in a security expert can help protect taxpayers and your business.” Recognizing the signs of data theft is the fourth item on the “Taxes-Security-Together” Checklist. Previous checklist items include: deploying the “Security Six” basic steps, creating a written data security plan and educating yourself on email phishing scams. Although the Security Summit -- a partnership between the IRS, states and the private-sector tax community started in 2015 -- is making major progress against tax-related identity theft, cybercriminals continue to quickly evolve, and data thefts at tax professionals’ offices remain a major attack point. Thieves use stolen data from tax practitioners to create fraudulent returns that are harder for Summit partners to detect. Recognize the signs of client data theft The IRS and Summit partners have created a list of warning signs that a tax professional or their office may have experienced a data theft: • Client e-filed returns begin to be rejected by the IRS or state tax agencies because returns with their Social Security numbers were already filed; • Clients who haven’t filed tax returns begin to receive taxpayer authentication letters (5071C, 4883C, 5747C) from the IRS to confirm their identity for a submitted tax return. • Clients who haven’t filed tax returns receive refunds; • Clients receive tax transcripts that they did not request; • Clients who ... https://www.youtube.com/watch?v=5YirlulxCwk

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