Intuit Stands Together With Industry and Government to Combat Tax Fraud at Washington Summit
June 11 2015 - 2:30PM
Business Wire
Identity theft tax refund fraud is one of the fastest growing
crimes in America. To address this growing threat, the IRS, joined
by state governments and the tax preparation industry, including
Intuit Inc. (Nasdaq:INTU), today announced a new set of common
security standards and data protocols to accelerate the fight
against tax fraud.
Brad Smith, CEO of Intuit, Inc. commented following his
participation in today’s Security Summit:
“Today marks an important milestone in a multi-step journey for
government and industry to work together to drive fraud out of the
U.S. tax system. We applaud this new set of security standards and
data protocols that create a strong foundation for deepening the
partnership between IRS, the states and industry.
What makes this process so effective, and these outcomes so
encouraging, is the collaboration and contribution from the entire
tax ecosystem. We want to thank IRS Commissioner Koskinen for his
vigorous leadership in bringing together federal and state
governments and industry in this powerful, public-private
partnership. We also want to thank the many states which have been
committed to this process and played such a valuable and strategic
role.
These new standards are part of a larger effort in service to
the American taxpayer -- to protect and safeguard their information
and to advance the public interest. In particular, the
industrywide IRS Leads Reporting, relying on anonymous, aggregated
submission information, will be instrumental in helping to protect
and serve legitimate taxpayers and safeguard their privacy.
In addition to these shared ‘rules of the road,’ the proposal
for an Information Sharing and Analysis Center (ISAC) is
particularly critical to enable information sharing among federal
and state governments and the industry, and it will significantly
strengthen our efforts to collectively find solutions and fight
fraud.
Intuit is committed to continuing to innovate to protect
taxpayer information and to educate the public. We support the
joint initiatives announced today and look forward to continuing to
actively participate in the Security Summit process which is so
vitally important to the U.S. tax system and the American
taxpayer.”
About Intuit Inc.
Intuit Inc. creates business and financial management solutions
that simplify the business of life for small businesses, consumers
and accounting professionals.
Its flagship products and services include QuickBooks®, Quicken®
and TurboTax®, which make it easier to manage small businesses and
payroll processing, personal finance, and tax preparation and
filing. Mint.com provides a fresh, easy and intelligent way for
people to manage their money, while Demandforce® offers marketing
and communication tools for small businesses. ProSeries® and
Lacerte® are Intuit's leading tax preparation offerings for
professional accountants.
Founded in 1983, Intuit had revenue of $4.5 billion in its
fiscal year 2014. The company has approximately 8,000 employees
with major offices in the United States, Canada, the United
Kingdom, India and other locations. More information can be found
at www.intuit.com.
Cautions About Forward-looking Statements
This press release contains forward-looking statements,
including statements regarding the expected results of our efforts
to address the reported fraudulent activities and prevent fraud in
the future. We cannot be certain that we will be able to do so
quickly or completely. Detecting and eliminating fraudulent
activity is inherently difficult, and those who perpetrate these
fraudulent activities are continuously changing their methods to
avoid detection. Accordingly, our efforts may not be successful and
actual results may differ materially from our goals and
expectations. We do not undertake any duty to update any
forward-looking statement or other information in this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20150611005349/en/
Intuit Inc.Julie Miller,
858-215-8469Julie_Miller@intuit.comorIntuit Inc.Diane Carlini,
650-944-6251Diane_Carlini@intuit.com
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