IRS to host security webinar for tax professionals on Nov. 30
As part of a larger effort to protect taxpayers against identity theft, the Internal Revenue Service and the Security Summit partners have reminded tax professionals to protect themselves and their clients’ sensitive information. This includes putting in place written security plans and following new requirements to use multi-factor authentication.
Under updated standards set by the Federal Trade Commission, tax professionals are now required not only to have a Written Information Security Plan (WISP) but also to use multi-factor authentication to safeguard taxpayer accounts and client information.
To help tax professionals with this during National Tax Security Awareness Week, the IRS and the Security Summit partners will hold a webinar on Nov. 30 to help them develop a security plan.
The session will be conducted by the IRS and Jared Ballew, a summit member who helped develop the WISP. Ballew serves as vice president of Government Relations at Taxwell, representing Drake Software and TaxAct. He conducted special IRS Nationwide Tax Forum sessions this summer to standing-room-only audiences.
“These security plans provide valuable tips and information to help tax pros develop an effective plan that’s appropriate for their business,” Ballew said. “The Security Summit partners continue to urge tax pros to make sure they have a strong security plan in place, and the WISP is a great place to start for many practices.”
During National Tax Security Awareness Week, now in its eighth year, the Security Summit partnership, comprising the IRS, state tax agencies and the U.S. tax community, aims to raise awareness among taxpayers and tax professionals about the importance of safeguarding information to protect against identity theft.
The Security Summit, formed in 2015, focuses on combating tax-related identity theft through better public-private sector coordination, strengthening internal protections in the tax community and raising public awareness about security threats.
“Tax professionals play a key role in the nation’s tax system, and it’s critical that they take important steps to protect their systems from identity thieves,” said IRS Commissioner Danny Werfel. “A system breach for a tax professional can be devastating not just to their business, but to their clients. The IRS and the Security Summit partners remind tax professionals to follow required guidelines, including developing a Written Information Security Plan, to protect themselves and their clients from identity thieves.”
Tax pros are the first line of defense in protecting taxpayer information. The summit partners highlighted several key steps that tax pros, regardless of the size of their practice, should take to protect their systems and comply with federal standards, the federal agency stated.
