PRIVACY ISSUES WITH CHEAP TAX SOFTWARE

PRIVACY ISSUES WITH CHEAP TAX SOFTWARE

The following is an excerpt from the February 16, 2023 Kiplinger Tax Newsletter:

"Beware of privacy issues if using cheap tax software to prepare your own return!

The news website The Markup reported that three online tax filing firms… TaxAct, TaxSlayer and H&R Block…sent various taxpayer information to Meta, the parent company of Facebook.

This story has rankled federal lawmakers. A group of senators sent a letter late last year to the heads of Meta and the three tax firms to get answers. And this month, three House members asked Treasury inspectors to investigate the data-sharing practices of online tax preparation companies."