Update

Working remotely requires a broadband Internet connection. Basic setups might only need tax preparation software, email, and a secure file-transfer platform. Complex arrangements use specialized software to remotely control another device and web-based applications for team collaboration. The size and type of your tax office will determine exactly what’s needed to serve your customers and…

Businesses or trades involved in the following service fields are considered a specified service trade or business for the purposes of claiming the QBI deduction: Health Law Accounting Actuarial science Performing arts Consulting Athletics Financial services Brokerage services Investing and investment management Trading or dealing in securities Partnership interests Commodities The IRS also identifies “any…

An intranet, unlike the Internet, is generally a private network that is only accessible to directly connected or credentialed devices. Propriety business intranets house private resources that are used by employees during the course of their work, often serving as communication hubs for the entire company. Some businesses also host bulletin boards and other idea-sharing…

Employee unauthorized access occurs when an employee illicitly gains access to proprietary information or company-held personally identifiable information and financial data. This type of security breech is typically tied to identity theft schemes, and it can be carried out in a number of ways: Accessing company databases without prior authorization Looking at private information on…

A virtual private network, or VPN, is a third-party service that creates an encrypted connection that can be used to securely access the Internet. Since they provide an extra layer of security, the Security Summit has recommended VPNs as an additional tool for tax professionals who work remotely or routinely send and receive PII and…

Identity theft tax refund fraud occurs when identity thieves use stolen personal identifying information (PII) to file fraudulent tax returns to receive a tax refund check from the Department of Treasury. Identity thieves commonly steal PII through phishing scams, Dark Web auctions, hacking databases, installing malware, and employee unauthorized access. Return to Taxing Subjects Frequently…

Personally identifiable information (PII) is any sensitive private data that can be used to apply for entertainment subscriptions, financial services, and utilities. There is a remarkable amount of information crossover between credit card accounts and streaming subscriptions, which is why the Security Summit recommends taking steps to protect your PII when online.  Identity thieves can…

Remote desktop connection software, like Microsoft’s Remote Desktop Protocol, is a program that allows users to remotely control another device via a network connection, like the Internet. These applications are one method used to facilitate telework arrangements, giving employees a direct, secure tunnel to operate computer workstations and access private intranets that are housed on-site…

The Dark Web makes up roughly five percent of the entire Internet, and it is used for clandestine and illegal activities. Criminals use the Dark Web to facilitate human trafficking and sell illicit goods, like drugs and stolen personally identifiable information (PII). Identity thieves buy and sell personally identifiable information (PII) on the Dark Web.…

The Deep Web is the part of the Internet that is not visible to search engines like Google. This content generally requires credentials to access, and some estimates project that it represents 96 percent of online content. While academic and business databases make up the bulk of the Deep Web, some of it is only…