The Internal Revenue Service has admitted to mistakenly posting the sensitive information from 120K taxpayers on its website. They realized their mistake and took down the material on August 26th.
The information posted was on Form 990-T, which is used by tax exempt organizations. such as government entities and retirement accounts. It reports taxable income on investments and other non-taxable transactions.
The data posted did not include social security numbers or other 1040 like info. The IRS does admit that in some cases, account holder and business contact names were released. The majority of the 990-T’s were from IRA’s.
What I love about this is that the IRS basically gets to say something like Oops, I’m sorry, and that’s it. There are no actual or punitive actions that will happen to them as a result.
I have a mid-sized firm that has practiced for 32 years. I can’t even begin to tell you how much sensitive info is on my servers.
Imagine what would happen to me if those materials got out to the public. They’d hang me from the highest tree. Instead, the IRS simply gets to shrug its shoulders and move on.
Let me leave you with this.
The time for remote work may have come to an end. The Wall Street Journal is reporting that many companies are requiring their workforces to again report to work.
After months of encouraging workers with everything from free pizza to catered lunches, many CEO’s are done saying please. They’re now saying show up or else.
Employers such as Apple, Prudential Financial, and BMO Financial have all demanded that workers return. Other companies have lifted vaccination and other related rules to get their people back after Labor Day.
Many are saying that with schools back in session and the weather still warm, it’s now the perfect time to get their people back into the office. Now that C-19 cases and any resulting deaths are low, workers are returning, given the fact that any resulting risks are extremely low.
Another factor is that many large employers have said that they’re going to begin layoffs in the fall. As such, bosses are in a stronger position to demand that their workers return, given the downturn in the economy.
We’ll see how all of this works out in the next few months.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family and your business. Whether you need Employee Retention Credits, M&A Due Diligence, Payroll Services, or Accounting and Tax Work, you have but to ask. I’m here and I remain,
Sincerely yours,
Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300
www.AccountingSolutionsLtd.com
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