Tag Archives: Tax

Federal Tax Treatment of Employer-Provided Identity Protection Services

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 … Continue Reading

Eight Thousand Clients Affected by Data Breach at Two Massachusetts Accounting Firms

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 … Continue Reading

IRS to Notify 100,000 Taxpayers That Their Information May Have Been Obtained Through Misuse of FAFSA Retrieval Tool

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 … Continue Reading

IRS makes exempt organizations’ Form 990 data available in machine-readable format

On June 16, 2016, the IRS announced that it will be making Form 990s available in machine-readable format through Amazon Web Services. While this information has always been available to the public, it was previously only accessible in PDF format, making searching or viewing data in bulk nearly impossible. The IRS announcement is in response … Continue Reading

Government report critiques the IRS’s handling of 2015 data breach

According to a government report publicly released last week, the IRS failed to adequately respond to a May 2015 cyber-attack on its “Get Transcript” application that potentially compromised at least 621,000 taxpayer accounts. The United States Treasury Inspector General for Tax Administration (“TIGTA”) found that, while the IRS timely disabled the affected application, it failed … Continue Reading

Privacy Tip #24 – IRS issues Alert to Payroll and HR Professionals about phishing scheme for W-2s

This week’s tip is for businesses, and in particular, the human resources, benefits and finance departments of all businesses. It doesn’t matter what industry you are in or where you or located. It doesn’t matter if you have 2 employees or 2,000. Just know that you can become the victim of a sophisticated cyber-attack. It … Continue Reading
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