As more people file their taxes online there is a growing concern about IRS data breaches. “In early 2015, hackers used the IRS’s “Get Transcript” application to access approximately 334,000 accounts and retrieve millions of taxpayer transcripts from prior years.” Hackers have also been known to use personal data and malware to generate e-filing PIN numbers. The IRS is an attractive target for online hackers because it stores financial and personal information about hundreds of millions of citizens. Lawmakers are talking about the need for more cybersecurity funding so that the IRS can better safeguard the information that it stores. This article provides information about ways individuals can better protect their own financial information. It is important to be skeptical and diligent about monitoring credit reports for unusual activity. People need to be on guard about protecting their own personal information from identity thieves.
See Lauren Williams, The Inevitable: Death, Taxes, and Breaches, Accounting Today, March 23, 2016.
Special thanks to Jim Hillhouse for bringing this article to my attention.
