Steps for Securing Taxpayer Data

Accounting Technology,  November, 2006  by Alexandra DeFelice

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Everyone knows that data thieves lurk around the Internet, trying to get access to clients' information. But are companies taking steps to prevent themselves from being the next victims? While Sarbanes-Oxley and the Gramm-Leach-Bliley Act provide a laundry list of guidelines as to what financial institutions and their affiliates that are subject to those laws must do to safeguard client data, several best practices exist which all companies should put in place regardless of whether they are required to do so.At the Internal Revenue Service's National Tax Forum in New York this summer, Carolyn Davis, senior program analyst at the technology programs branch of the Electronic Tax Administration, gave conference attendees tips on securing taxpayer data from potential culprits: Appoint security administrators.

Appoint someone to assess the risks you have in your company-external accounting and internal access, and systems you have in place. Write a security plan. This should cover ...