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.<\/p>\n
\u200bAccording 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. \u200b<\/p>\n
Speaking at today\u2019s meeting of the IRS Security Summit,\u00a0Brad Smith,\u00a0chairman and\u00a0chief executive officer\u00a0of Intuit, commented on the continued progress and reaffirmed\u00a0the company\u2019s\u00a0enduring\u00a0commitment to\u00a0combat tax cyber fraud.<\/p>\n
\u201cWhat makes\u00a0the Summit\u00a0process 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\u00a0visionary\u00a0leadership 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.<\/p>\n
\u201cAmerican taxpayers are still under siege from cyber criminals, so\u00a0we\u00a0remain steadfast in our\u00a0commitment to\u00a0fight\u00a0tax\u00a0cyber fraud.\u00a0We\u2019re proud of the progress being made.<\/p>\n
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\u00a0increase the safety and security of the nation\u2019s tax system.<\/p>\n
\u201cBut there\u2019s still\u00a0much\u00a0work to do.\u00a0We\u00a0have the opportunity to\u00a0build on\u00a0existing\u00a0trusted customer requirements to continuously improve taxpayer authentication.\u00a0As technology\u00a0advances, we must continue to\u00a0innovate to protect taxpayer information.\u00a0And 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.<\/p>\n
\u201cWe 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.\u201d<\/p>\n
Media Contact:
\nSandra Gharib
\n(650)944-4185
\nSandra_gharib@intuit.com<\/p>\n","protected":false},"excerpt":{"rendered":"
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. \u200bAccording to the IRS, in the first five months of 2017, there was a reported 47 percent<\/p>\n","protected":false},"author":151418277,"featured_media":7793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rkv_browse_by_id":0,"rkv_cta_id":0,"rkv_optimize_for_pagespeed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"useModifiedDate":false,"customPublishDate":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1392],"tags":[1410,1439,1438],"intuit_collection":[],"intuit_series":[],"coauthors":[1399,237496056],"class_list":["post-365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-social","tag-brad-smith","tag-irs","tag-security"],"yoast_head":"\n