Over the recent years, there has been an increase in stolen Social Security numbers and fraudulent tax returns being filed. The Internal Revenue Service has continued efforts in combating tax fraud. They recently announced a collaborative effort of 34 state revenue departments and 20 tax industry members to put strong new safe guards in place for the 2016 tax season.
Sally Schreiber, in a recent article published in the Journal of Accountancy, reports on the announcement.
The effort, known as the Security Summit, involved the IRS, tax preparation firms, tax software firms, and state tax administrators. Three working groups are focusing on three key issues of authentication, information sharing, and cyber security. The effort also includes verifying identities in tax software, adding security questions, increasing password requirements, and timed locked outs.
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