Deepening congressional concern over identity theft is casting a spotlight on tax return preparers who share their clients' Social Security numbers with outside contractors.In a report to Congress focusing fresh attention on the tax-outsourcing issue, auditors from the Government Accountability Office warned that the sharing of personal financial information by tax preparers and other private-sector industries could leave Americans unnecessarily vulnerable to financial fraud.
"Stolen and misused Social Security numbers are a prime enabler of identity theft - a crime that devastates people and costs businesses billions of dollars each year," House Ways and Means Committee member Jim McCrery, R-La., said in response to the GAO findings. "Companies and their contractors must adequately protect SSNs at every step of a business transaction."
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access