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[Dataloss] Tax return information for sale?
From: lyger (lygerattrition.org)
Date: Mon Mar 20 2006 - 08:21:37 CST
By Jeanne Sahadi, CNNMoney.com senior writer
March 17, 2006: 1:45 PM EST
Would you ever agree to work overtime for free, indefinitely, creating
profits for someone else?
I didn't think so.
But that's often what we do when we buy a product or service from
companies. That's because they can continue to make money off us by
selling whatever personal information we give them in the course of the
transaction. Your payback: more junk mail and greater risk of identity
And now it looks very likely that tax preparers will be able to profit off
clients in ways having nothing to do with taxes.
Thanks to proposed changes to the IRS' privacy regulation of tax
preparers, everyone from H&R Block to your local tax-prep shop may be
allowed to sell their clients' tax return information to any third party,
including marketers and data brokers.
Mind you, they would need to get your consent, according to the proposed
But why on earth would you ever give it? The firm may try to sell you on
the idea that by letting them "share" your sensitive financial
information, you will benefit by getting pitched products and services
that you really want.
That would be some serious tripe. How many times have you ever gotten a
solicitation in the mail and said, 'Oh that's exactly what I need. Sign me
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