Demystifying Compliance: FTC Safeguards Rule, IRS Publication 4557 or BOTH?
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Demystifying Compliance: FTC Safeguards Rule, IRS Publication 4557 or BOTH?
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About this session
Practitioners who provide tax services to their clients have been attesting that they have a Written Information Security Plan (WISP) in place since 2019 as part of the PTIN application and renewal, yet the AICPA reports that many of its members are unaware of the requirement or are not in compliance yet.
Additionally, the new "penalty phase" of the FTC Safeguards Rule kicks in June 9, 2023, and many practitioners (tax firms, accounting firms, and even bookkeeping firms) are unsure of whether the ruling applies to them.
Come and learn how the two rulings overlap, and where they diverge. You'll also learn how to get quickly into compliance if you don't have your WISP in place. If you do have a WISP already, you'll learn the 4 things you need to do now to also be compliant with the FTC Safeguards Rule and avoid possible penalties.
You may submit your questions using this button now and watch the speakers will have them answered later.
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