Wednesday, October 28, 2015

Is the IRS Using Outdated Software?

If you pay attention to financial news, then you may have heard the rumors that Microsoft is running outdated Windows XP operating software, and unfortunately, that is true. The “big deal” about this discovery is that the software has year-old security updates, which is scary since you and others trust the IRS with your most personal and sensitive information. Even more scary is the fact that the current software the IRS uses to catch fraudsters in the act is twenty years old! 


A lot of people believe that the IRS’ continued use of outdated software is to blame for the recent hack of over 100,000 taxpayer accounts, in which hackers used personal information they’d previously obtained to get personal data about people, such as tax returns.

Though that scare has been taken care of, it and other security concerns were still brought up to the House Financial Services and General Government Committee. There, congressman Ander Crenshaw expressed grave concern that the IRS had not updated its software in such a long time.
The IRS’ commissioner, John Koskinen blamed budget cuts for the lack of updates, though many people lack sympathy, due to the fact that the Government Accountability Office (GAO) found almost 70 problems on its last assessment of IRS security controls.


Information such as this often comes as a cold shock to well-meaning taxpayers. After all, the last thing you think when you send your information off to the IRS is that it will be unprotected. While the IRS is supposedly taking measures to increase security, this news really drives home the fact that you can never be too careful when it comes to protecting your financial information and alerting your financial advisor at the first sign or even hint of fraudulent or suspicious activity.  #ProtectingFinancialInformation

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