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Accuracy, records and data security

SEE 3 Chapter 24 · IRS outline 4A1, 4A2, 4B1, 4B2

Domain 4 is about the filing process itself, and it starts inside Lantern Street's own office. Theo trusts the software a little too much; a W-2 got entered twice; a client wants to know if she can shred her 2018 records; and one Monday the firm's email account sends strange messages to every client. This chapter covers reviewing software results, catching errors, how long to keep what, and protecting taxpayer data under the FTC Safeguards Rule.

In this chapter

1. Relying on software, and reviewing its results
2. Spotting miscalculations and duplicate entries
3. How long taxpayers should keep records
4. How long preparers and EROs keep records
5. Data security: the FTC Safeguards Rule and the WISP
6. Security controls and responding to a breach

This chapter has 6 lessons and 50 practice MCQs with explanations, plus flashcards and a recall sheet.

What this chapter covers

• Reviewing software results
• spotting miscalculations and duplicates
• how long to keep records
• safeguarding data
• the written information security plan
• reporting a breach

Chapter 23: Appeals, the 90-day letter and the courts · Chapter 25: The IRS e-file program