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IRS plans to allow preparers to sell data
Key Excerpts from Article on Website of Philadelphia Enquirer (Philadelphia's leading newspaper)
Posted: November 11th, 2006
http://www.philly.com/mld/inquirer/business/14147002.htm
The IRS is quietly moving to loosen the once-inviolable privacy of federal income-tax returns. If it succeeds, accountants and other tax-return preparers will be able to sell information from individual returns - or even entire returns - to marketers and data brokers. The change is raising alarm among consumer and privacy-rights advocates. It was included in a set of proposed rules that the Treasury Department and the IRS published...where the official notice labeled them "not a significant regulatory action." The proposed rules...would require a tax preparer to obtain written consent before selling tax information. Critics call the changes a dangerous breach in personal and financial privacy. They say the requirement for signed consent would prove meaningless for many taxpayers, especially those hurriedly reviewing stacks of documents before a filing deadline.The IRS first announced the proposal in a news release the day before the official notice was published, headlined: "IRS Issues Proposed Regulations to Safeguard Taxpayer Information."
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