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US Accountants Make Anti-Tax Fraud Suggestions

Source: - May 10, 2013

by Mike Godfrey,, Washington
07 May 2013

On May 1, the American Institute of Certified Public Accountants (AICPA) provided testimony at the Internal Revenue Service (IRS) Oversight Board Forum on its suggestions about how to curb United States tax identity theft and fraud.

"Some actions that we believe would reduce the threat of identity theft would require legislative or regulatory changes," Jeffrey A. Porter, chair of the AICPA’s Tax Executive Committee, told the Oversight Board.

He said the IRS's proposed regulations authorizing filers of certain information returns to voluntarily truncate a taxpayer's identifying number is a "positive step towards protecting the privacy and security of personal information." The AICPA is pleased that the proposed regulations would make the truncation program permanent, because it has supported that for several years.


Category: General Business