Tax. Security. Together.

By: Chris Yekel, CPA

Users of online tax software will notice some additional security measures in place this filing season.

Behind the scenes, the IRS has been working together with software providers, state revenue departments, and the tax industry as a whole to implement new safeguards against fraudulent returns. The focus of this effort is on identifying fraudulent returns that are computer-generated and electronically filed, and continually adapting to the ever-evolving nature of this threat. While many of the new security measures will go unnoticed by the average taxpayer, tax software providers will be implementing some additional security procedures, such as requiring more complex passwords and security questions, limiting unsuccessful login attempts, including a timed lockout feature, and verifying taxpayer identity using a PIN sent by text or email.

In addition to increasing security, the IRS has launched an awareness campaign to encourage taxpayers, preparers, and business owners to take steps to prevent identity theft. Key steps individuals can take include securing tax records, either physically or through encryption if stored electronically, and using effective anti-virus software, including firewall protection.

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If you have any questions or would like to learn more about these security measures, please contact the Shinn & Co team at info@shinnandco.com or call 941.747.0500.