New Tax Law Could Put Privacy At Risk: Treasury

Law360, Washington (August 22, 2011, 6:37 PM EDT) -- A new U.S. Department of the Treasury auditor's report released Thursday said the Internal Revenue Service's planned new credit and debit card rules do not adequately address the risks of disclosure of taxpayers' sensitive private information.

The IRS' plans to implement the merchant card reporting requirements of the Housing and Economic Recovery Act of 2008 could create “a burden for taxpayers and problems for the IRS,” said the Treasury Inspector General for Tax Administration report, completed in July and released publicly on Thursday. Sensitive taxpayer data...
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