IRS spotlights security plan requirement

February 11, 2020

The IRS is reminding tax practitioners of a safeguards rule that requires all firms to have a written information security plan.

The plan, according to the Gramm-Leach-Bliley Act (GLBA) safeguards rule, must describe how a practitioner’s firm protects clients’ confidential information. Failure to do so may result in a Federal Trade Commission investigation.

A GLBA information security plan template, designed by the AICPA Tax Section, is available to AICPA members. Find more data security responsibilities here.

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