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Working Virtually: Protecting Tax Data at Home

Working Virtually: Protecting Tax Data at Home 2026

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The document outlines the importance of tax professionals having a written information security plan to protect taxpayer data, especially when working virtually. It emphasizes compliance with Federal Trade Commission requirements and the necessity of an emergency response plan for data theft incidents. Tax professionals are advised to report any data theft immediately to the IRS and relevant authorities to safeguard both their clients and their practice.

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Click ‘Get Form’ to open it in the editor.
Begin by reviewing the first section regarding the creation of a written information security plan. Use the text box feature to outline your plan, ensuring it meets Federal Trade Commission requirements.
In the next section, detail your emergency response plan for data theft. Utilize checkboxes to indicate steps you will take, such as contacting the IRS and local authorities.
For reporting data thefts, fill in the designated fields with contact information for your local IRS Stakeholder Liaison and any relevant email addresses. This ensures quick communication if an incident occurs.
Finally, review all entries for accuracy and completeness before saving or exporting your document. Use our platform’s signature feature if necessary to finalize your security plan.

Start using our platform today to effortlessly complete your tax data protection plans online for free!

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Versions	Form popularity	Fillable & printable
2020	4.8 Satisfied (25 Votes)

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Are CPAS required to have a WISP?

All accounting firms in the United States who are tax preparers are required by the FTC Safeguards rule and IRS 4557 guidelines to have in place a data security plan which outlines the protocols and processes which protect customer information and guard against data breaches.

What is the penalty for not having a wisp?

Without a WISP you are not compliant ing to the Gramm-Leach-Bliley Act (GLBA) and the Federal Trade Commission Financial Privacy and Safeguards Rule. Non-compliance could cost your firm up to $100,000 in fines, loss of license, and up to 5 years in prison.

Is WISP required by IRS?

Federal law, enforced by the Federal Trade Commission, requires professional tax preparers to create and maintain a written data security plan. Having a WISP protects businesses and clients while providing a blueprint of action in the event of a security incident.

Is IRS requiring the WISP?

Legal Compliance: The IRS requires tax filers to comply with various regulations and standards to safeguard taxpayer information. Implementing a WISP is not just good practice; its a legal requirement to ensure that businesses adhere to IRS guidelines and avoid potential penalties for non-compliance.

Are tax preparers responsible for safeguarding taxpayer data?

Protecting client data also is the law. Federal Trade Commission regulations require professional tax preparers to create and enact security plans to protect client data. Review IRS Publication 4557, Safeguarding Taxpayer Data PDF, for details and security recommendations.

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