We continue highlighting the “Protect Your Clients, Protect Yourself,” a five-week campaign presented by the Security Summit and the Internal Revenue Service (IRS). Last week, the campaign focused on phishing scams and the IRS’s “Security Six” protections, which help tax professionals and businesses defend against cyber threats. These essential safeguards include anti-virus software, firewalls, two-factor authentication, backup software or services, drive encryption, and virtual private networks (VPNs).
Week three of the campaign focuses on creating and maintaining a Written Information Security Plan (WISP). The IRS reminds tax professionals that federal law requires many businesses that handle taxpayer information to develop, implement, and maintain a written security plan under the Federal Trade Commission (FTC) Safeguards Rule. A WISP documents how an organization protects sensitive information by identifying potential risks, outlining administrative, technical, and physical safeguards, assigning security responsibilities, and establishing procedures for responding to and recovering from security incidents. Regularly reviewing and updating the plan helps organizations adapt to evolving cybersecurity threats and maintain compliance.
Why This Matters to SPS/GZ Clients: Organizations responsible for tax reporting and stock plan administration routinely collect, process, and store sensitive taxpayer information, including taxpayer identification numbers (TINs), Social Security numbers, addresses, compensation data, and financial account information. A Written Information Security Plan provides a structured framework for protecting this data throughout its lifecycle. By establishing clear security policies, documenting risk assessments, training employees, and preparing for potential incidents, organizations can reduce the likelihood of data breaches, strengthen regulatory compliance, and demonstrate a commitment to safeguarding confidential taxpayer information.
Highlights of Upcoming Weeks:
Week four: Tools to help Protect Your Clients; Protect Yourself.
Week five: Signs of identity theft and reporting theft.
SPS/GZ is a full-service tax reporting firm that provides personalized service and exceptional support, utilizing state-of-the-art technology for business clients of all sizes. We create and e-file Forms 1098-T, 1042-S, and 1099, Affordable Care Act tax forms, and Forms 3921 and 3922. Our complete and affordable solution allows administrators to simply upload their tax form data file to our secure portal in a few simple steps, and we handle everything else to help keep your organization compliant. Our clients trust SPS/GZ’s proprietary, interactive portal, spsgzXchange, which utilizes highly secure, robust, and user-friendly technology. For more information, reach out to us at sales@greenzapato.com or call (888) 375-3049. Contact us today!
