2024's Biggest Security and Privacy Concerns Under IRS Tax Rules

Author: Stephen M. Yoss

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

Tax practices face a critical responsibility: safeguarding client data against cyber threats. This course is tailored for professionals in the tax industry, offering a deep dive into the essentials of creating and maintaining a Written Information Security Plan (WISP) as mandated by IRS regulations and the FTC Safeguards Rule. With a focus on IRS Publications 4557, 5293, and 5708, along with insights from NISTIR 7621, participants will learn not just the theory but the practical steps needed to enhance their practice’s security posture. The course content is designed to be direct and engaging, ensuring that attendees can easily translate knowledge into action.

The curriculum covers a broad spectrum of critical topics, from developing a compliant WISP to recognizing and responding to cyber threats, and from implementing strong access controls to effective data protection measures. Special emphasis is placed on real-world strategies for preventing data breaches, including the use of encryption, backup procedures, and secure data disposal methods. Participants will also explore the importance of employee training and the continuous monitoring and improvement of security practices to address new cyber threats and business changes. For tax professionals committed to upholding the highest standards of data security and building a trust-based relationship with their clients, this course is a vital resource. Attendees will not only gain the knowledge to protect their clients’ data but also the confidence to implement best practices within their organization.

Publication Date: August 2024

Topics Covered

• Recommendations for Safeguarding Taxpayer Data
• Written Information Security Plan
• Writing Your IRS Compliant WISP
• The Importance of Backing Up Your Systems and Data
• Overall Security Recommendations

Learning Objectives

• Identify the essential components of a Written Information Security Plan (WISP) that fulfills IRS and FTC Safeguards Rule requirements for protecting sensitive taxpayer data
• Recognize how to evaluate organization practices to identify security gaps and areas for improvement in meeting IRS standards for access controls, employee training, and data protection
• Recognize how to apply encryption, backup procedures, and other practical data security measures to reinforce defenses against unauthorized access or cyberattacks
• Identify how to develop risk mitigation strategies and response plans to recognize phishing attempts, monitor EFIN/PTIN usage, and report suspected data breaches
• Identify how to construct a customized information security plan utilizing IRS Publication 4557 to safeguard confidential client records while ensuring ongoing compliance through continuous monitoring

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Information Technology (2 hours)

Program Prerequisites
None

Advance Preparation
None