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Cyber Security

IRS announces move to protect businesses from identity theft

The U.S. Internal Revenue Service (IRS) has announced today that sensitive information will be masked on all business tax transcripts starting next month to protect companies from identity theft. Identity theft happens when company owners or employees are impersonated by third parties in the process of committing fraud such as illegally obtaining cash, credit, and loans. The new tax transcripts will still contain an optional ID that matches the taxpayer (business or individual) to the transcript. The Treasury Department tax bureau previously began masking all sensitive information included in individual tax transcripts two years ago.

Source: https://www.bleepingcomputer.com/news/security/irs-announces-move-to-protect-businesses-from-identity-theft/

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