22 Feb 2022

IRS will let taxpayers opt out of ID.me facial recognition with a live interview

After recent news that the IRS would mandate ID.me facial recognition security to access taxpayer accounts, the IRS decided that US taxpayers who do not want to submit biometric data will instead sign up for a live, virtual interview to create an account. According to the agency, the new authentication

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08 Feb 2022

IRS To Ditch Biometric Requirement for Online Access

Earlier this week, the Internal Revenue Service (IRS) stated that it would be transitioning away from requiring biometric data from taxpayers who seek to access their records via the agency’s website. The decision to reverse the former policies comes as privacy experts and lawmakers have voiced concerns over the federal

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03 Feb 2022

In Win For Crypto Stakers, IRS Offers Refund on Untraded Token Rewards

A decision to refund a Nashville couple taxes related to unsold Tezos tokens is set to clarify the IRS tax treatment of staked cryptocurrency. In a win for cryptocurrency stakers and miners, the IRS has offered to refund the couple taxes paid on rewards gained — but not redeemed — from

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29 Nov 2021

Own Crypto? Here’s How to Avoid Running Afoul of the IRS.

Investors in cryptocurrencies may be sitting on big profits. Bitcoin and Ethereum, the two largest cryptos, are up 100% and 470% this year, respectively. Solana, another major coin, is ahead 13,300%, while the “joke” token Dogecoin has gained 49,000%. While the profits may have enriched crypto owners, taxes may be coming

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25 May 2021

IRS Wants Tools for Cracking Crypto Wallets

The IRS wants to create a set of reliable tools and processes for cracking crypto wallets as the purchase of goods and services using the technology becomes more popular. The IRS’s Criminal Investigations division faces difficulties in that cryptocurrencies are harder to trace and therefore do not offer the same

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01 Apr 2021

College Students Targeted in Newest IRS Scam

The Internal Revenue Service (IRS) has warned of a scam targeting college students. The scam is a phishing attempt in which the perpetrators are posing as the IRS with subject lines such as “Tax Refund Payment,” according to a warning released by the agency. The IRS sought to alert educators,

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10 Sep 2020

IRS Wants to Be Able to Trace ‘Untraceable’ Digital Currencies

The Treasury Department reportedly is investigating potential ways to trace currency that is known as untraceable, seeking to expand its visibility into cryptocurrency transactions. These transactions enable anonymity and allow for more privacy between the parties involved than most other blockchain-based exchanges. Cryptocurrency is transmitted virtually through a decentralized digital

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03 Apr 2020

IRS Warns of Surge in Economic Stimulus Payment Scams

The IRS has warned Americans about an influx in scams related to the COVID-19 pandemic occurring over either email, phone calls, or social media that requests personal information while using fraudulent IRS stimulus checks as a lure. The scam campaign can result in identity theft and tax-related fraud and is

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27 Aug 2019

IRS Warns of New Imposter Scam That Spreads Malware

The IRS is warning taxpayers about a phishing campaign in which threat actors are masquerading as IRS agents. The scammers are distributing emails made to look like official IRS messages. Recipients are urged to click on a malicious link in order to download documents with information about their tax refunds.

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24 Jul 2019

Report Finds New Deficiencies in IRS Data Security Security Controls

A recent audit[pdf] of the Internal Revenue Service (IRS) by the United States Government Accountability Office (GAO) exposed 14 shortcomings in relating to information system security control. The deficiencies undermined access control (8), configuration management control (4), segregation of duties (1), and contingency planning (1). The report also found that as

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