Sigma Tax Pro Urges Tax Professionals To Review Their EFIN Security
Industry: Financial Services
Tax professionals are urged to ensure their EFIN status is current, and their information is protected.
Delray Beach, FL (PRUnderground) September 5th, 2018
The IRS has made many recent changes, and the focus seems to be around securing sensitive information. Hackers and fraudsters have also recently made changes to their frequent scams by targeting tax professionals instead of taxpayers directly. In reaction to this, the IRS has updated the security requirements for Electronic Filing Identification Numbers (EFIN).
Cybercriminals target these IRS-issued identification numbers in order to impersonate tax practitioners and file fraudulent returns. To protect against this threat, prepares are urged to monitor their EFIN, as well as their Preparer Tax Identification Number, and Centralized Authorization File numbers. By using these authentic identification numbers, the fraudulent returns created by these thieves are much harder to detect.
In order to protect this sensitive information, tax professionals are reminded to review their e-File application periodically. These applications must also be updated within 30 days of any changes (like phone numbers or addresses), which is another good reason to keep the information up to date. It’s also important to make sure that any new principles or authorized individuals are listed on the application. The principle listed on the application is the individual authorized to act for the business in a legal or tax matter.
Ian Gardner, of Sigma Tax Pro, reminds tax professionals that “You can obtain a weekly report of the number of returns filed under your EFIN, and you should monitor that closely to make sure cybercriminals haven’t accessed your account.”
Some other basic precautions to take are: learning to recognize and avoid phishing scams, securing all devices with security software, and using strong passwords that you don’t share with any unauthorized users.
Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base.
About Sigma Tax Pro
Sigma Tax Pro provides a full range of essential tax software services for tax professionals. This includes industry leading professional tax software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base.
