The US Internal Revenue Service (IRS) announced at the end of last week that sensitive information would be covered in all business tax copies from next month, in order to safety and protecting companies from possible identity theft.
Business theft identity It happens when fraudsters defraud the owners or employees of a company to carry out illegal activities, such as the illegal acquisition of cash, credit and loans.
The theft of one's identity business occurs after fraudsters acquire access in bank accounts and credit cards or after stealing sensitive and confidential information, including VAT and personal data of members of the company and its customers.
To protect taxpayers from possible identity theft, the US Internal Revenue Service announced that from December 13 it will begin to sensitively hide data on corporate tax documents.
According to the IRS, as soon as sensitive data on corporate tax copies begin to be hidden, the new tax copies will only display the following information:
- The last four digits of any employer identification number on the copy: XX-XXX1234
- The last four digits of any social security or personal tax number mentioned in the copy: XXX-XX-1234
- The last four digits of any account or phone number
- The first four characters of a person's name and surname (the first three characters if the name has only four letters)
- The first four characters of any name in the business name bar
- The first six characters of the street address, including the blanks
- All amounts of money, including salaries and income, due balances, interest and penalties
This notice gives all interested parties 30 days to make adjustments to the tax filing and analysis procedures.
Taxpayers have been notified by the IRS of this new measure protection from the risk of identity theft that started as part of the National Tax Forum this summer. The tax office of the Ministry of Finance has started to cover all the sensitive information contained in individual tax documents Two years ago.
Last year, the IRS also published guidelines to help taxpayers protect themselves from possible identity theft while shopping online. The IRS has also twice this year urged taxpayers to allow multi-factor authentication (MFA) in software tax protection to protect against data theft and withdrawal attempts by hackers.