Equifax Data Breach IRS
About Equifax Data Breach IRS
In 2017, the IRS awarded Equifax a 7.25 million contract to help verify taxpayer identities. This was shortly after Equifax announced a data breach affecting 147 million Americans. The contract was controversial, as Equifax had failed to protect consumer data and was now being trusted with IRS data. The IRS argued that Equifax was the only company that could provide the service quickly. Members of Congress from both parties criticized the contract. The IRS subsequently terminated the contract and transitioned to a different provider. The incident highlighted the risk of relying on private companies for sensitive government functions. The Equifax breach itself was linked to tax fraud, as stolen personal information was used to file fraudulent tax returns and claim refunds.
Related Entries
IRS Creation
The Internal Revenue Service was created in 1862 as the Office of the Commissioner of Internal Reven...
HMRC UK
Her Majestys Revenue and Customs was formed in 2005 from the merger of the Inland Revenue and Custom...
Tax Treaty Network
Tax treaties, also called double taxation agreements, prevent the same income from being taxed by tw...
BEPS Project OECD
The OECD Base Erosion and Profit Shifting project was launched in 2013 to address corporate tax avoi...