When an employer is responding to a breach of their employees’ personal information, one of the last things they may think about is whether the value of the credit monitoring or other identity protection services they make available to affected employees should be considered taxable to the employees and reported as such. In Announcement 2015-22
IRS Issues Fraud Alert to Financial Institutions Complying with FATCA
The Internal Revenue Service issued a fraud alert for international financial institutions complying with the Foreign Account Tax Compliance Act (FATCA). According to the report, scam artists posing as the IRS – through attacks known as “phishing attacks” – have fraudulently solicited financial institutions seeking account holder identity and financial account information. Financial institutions …
IRS Guidance for Bitcoin in Time for Tax Season
Posted in Data Security, Information Risk
In an earlier post, we discussed the basics behind how Bitcoin operates and how it might create unique issues for employers. In the span of just a little over a month, the Bitcoin community has had its share of stories in the news cycle. One of the largest exchanges, Mt. Gox, has filed for…
Recent IRS, MTA Data Breaches Provide Reminders To Not Ignore the “Low-Hanging Fruit”
Many organizations believe they have taken all steps necessary to eliminate the risk of a data breach. They often point to the organization’s deft IT team and tout the installation of some of the latest software solutions to protect sensitive data. However, some of these same organizations often fail to take some very basic steps…
IRS Releases Updated Disclosure & Privacy Law Reference Guide
By Joseph J. Lazzarotti on
Posted in Data Security
IRS releases updated disclosure & privacy law reference guide.
Continue Reading IRS Releases Updated Disclosure & Privacy Law Reference Guide