News Intuit Reaffirms Commitment to Joint Government-Industry Fight Against Tax Cyber Fraud Through the ongoing efforts of the IRS Security Summit, a collaborative partnership between the Internal Revenue Service, state governments and the tax preparation industry, including Intuit Inc. (Nasdaq: INTU), cyber fraud declined significantly during this past tax season. According to the IRS, in the first five months of 2017, there was a reported 47 percent Written by Intuit Blog team Published Oct 17, 2017 - [Updated Nov 7, 2022] 2 min read Through the ongoing efforts of the IRS Security Summit, a collaborative partnership between the Internal Revenue Service, state governments and the tax preparation industry, including Intuit Inc. (Nasdaq: INTU), cyber fraud declined significantly during this past tax season. According to the IRS, in the first five months of 2017, there was a reported 47 percent decrease in tax-related identity theft, about 96,000 fewer victims, compared to the same period in 2016. IRS further reported that over the last two years, the number of taxpayers reporting they were victims of tax-related identity theft declined by about two-thirds. Speaking at today’s meeting of the IRS Security Summit, Brad Smith, chairman and chief executive officer of Intuit, commented on the continued progress and reaffirmed the company’s enduring commitment to combat tax cyber fraud. “What makes the Summit process so effective, and these outcomes so encouraging, is the collaboration and contribution from the entire tax ecosystem. We want to thank IRS Commissioner Koskinen for his visionary leadership in bringing together federal and state governments and industry in this powerful, public-private partnership. We also want to thank the many states for their leadership commitment to this process, which played such a valuable and strategic role. “American taxpayers are still under siege from cyber criminals, so we remain steadfast in our commitment to fight tax cyber fraud. We’re proud of the progress being made. This year also marked the launch of the Tax Information Sharing and Analysis Center (ISAC) which has dramatically improved real-time security information sharing to strengthen our collective ability to safeguard taxpayers. Efforts to educate taxpayers and tax professionals have also resulted in greater awareness and accountability to protect online identities and increase the safety and security of the nation’s tax system. “But there’s still much work to do. We have the opportunity to build on existing trusted customer requirements to continuously improve taxpayer authentication. As technology advances, we must continue to innovate to protect taxpayer information. And for those taxpayers who become a victim of tax fraud, it is imperative that we collectively provide faster, better relief and assistance to those who depend on us. “We look forward to continuing to actively participate in the Security Summit process, which is so vitally important to the U.S. tax system and the American taxpayer.” Media Contact: Sandra Gharib (650)944-4185 Sandra_gharib@intuit.com Previous Post Intuit’s Annual Investor Day Next Post Turbo: The Financial Health Profile that Truly Matters Written by Intuit Blog team Our team of contributors loves to uncover inspiring stories and share helpful tips to help power your prosperity. Browse Related Articles Intuit Experts The Support to Grow your Tax and Bookkeeping Career, Your Way Intuit Experts Flexible Work that Works: Revolutionizing Tax and Bookkeeping Careers with Intuit Intuit Experts How to Become a CPA (A Comprehensive Guide) Intuit Experts 5 Weekend Accounting and Tax Jobs to Boost Your Income People & Culture Closing the gap for women in tech: why mentorship matters Social Responsibility Building Inclusion: supporting career transitions of veterans through mentorship Social Responsibility Building a strong network to grow your career Tech Innovation Global Engineering Days 2023 – a week on the road to beautiful code Global Stories How Intuit’s tech culture helped me grow as an individual and engineer Social Responsibility DEI: Powering prosperity for all