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According to reporting from the Verge and the Markup, several popular e-filing providers have been transmitting sensitive financial information to Meta through Meta Pixel. Meta Pixel is a free advertising analytics service offered by Meta that, similar to cookie files and other persistent user identifiers, collects personalized data about how the users interact with content…

Tax identity theft continues to be a significant problem for taxpayers. Tax identity theft occurs when criminals use the personal information of individuals and file fraudulent tax returns before the taxpayer does, requesting a refund. When the real taxpayer files his or her tax return, the IRS kicks it back, explaining that it has already…

As cryptocurrency becomes more popular with investors, CipherTrace recently issued its Q2 2019 Cryptocurrency Anti-Money Laundering Report, which finds that “[O]utright thefts as well as scams and other misappropriation of funds from cryptocurrency users and exchanges continued apace, netting criminals and fraudsters approximately $4.26 billion in aggregate for 2019.” Yikes—that’s billion with a “b”.

The…

In the wake of several recent high-profile security breaches, employers are increasingly viewing identity theft protection as an essential employee benefit for employees. According to Willis Towers Watson’s 2016 voluntary benefits and services (VBS) survey, identity theft protection, offered by 35 percent of employers in 2015, could double to nearly 70 percent by 2018. Recognizing the changing needs of the workforce, employer-provided identity theft protection typically includes some form of coverage for financial losses (which can include lost wages) as well as case management services for victims of identity theft. 
Continue Reading Federal Tax Treatment of Employer-Provided Identity Protection Services

Two Massachusetts accounting firms separately recently notified the Office of the Massachusetts Attorney General and the Office of Consumer Affairs and Business Regulation of data breach incidents at their firms, resulting in the unauthorized access of their respective clients’ names, addresses and Social Security numbers.

The first accounting firm, King McNamara Moriarty LLP (KMM) discovered…

On Thursday, Internal Revenue Service (“IRS”) Commissioner John Koskinen testified that the personal data of up to a 100,000 taxpayers could have been compromised as a result of criminal use of the Free Application for Federal Student Aid Data Retrieval Tool (“DRT”). Last week, we posted that the IRS disabled the tool after it suspected…