Update on Security Summit’s Collaboration to Fight Identity Theft
The Security Summit, a group that includes IRS, state tax authorities, and tax industry firms, has issued an update on the progress it has made since being formed last March, including new identity theft protection procedures that will take effect during the 2016 filing season.
The Summit identified and tested more than 20 new data elements on tax return submissions that will be shared with the IRS and the states to help them detect and prevent identity-theft related filings this coming filing season. In addition, the software industry is putting in place for the 2016 filing season enhanced identity requirements and validation procedures for their customers to protect accounts from identity thieves.
To find out more information please contact Warady & Davis LLP at 847-267-9600 or visit the IRS website:https://www.irs.gov/uac/Newsroom/IRS,-States,-Industry-Continue-Progress-to-Protect-Taxpayers-from-Identity-Theft