tech and fintech

congress: tax prep companies shared private data with google, meta for years

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former ftc chief says this data breach is a “five-alarm fire.”

by rick richardson
technology this week

a seven-month congressional investigation found that three of the biggest tax preparation firms in the country may have shared americans’ private financial information with google and meta for years in a possible violation of federal law. the information, in some cases, was used for targeted advertising.

more tech this week: the first police officer on the scene might be a drone | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar

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the investigation’s findings reveal a “five-alarm fire” for taxpayer privacy that, according to legal experts, could result in public and private lawsuits, criminal penalties or even a “mortal blow” for some major industry players like taxslayer, h&r block and taxact.

“on a scale from one to 10, this is a 15 … this is as great as any privacy breach that i’ve seen other than exploiting kids. this is a five-alarm fire if what we know about this so far is true.”

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safe harbor compliance reduces risk of fines and penalties

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protect your clients–and your firm–by being proactive.

by donny shimamoto, cpa, citp, cgma

in the last few years, we’re starting to see state legislatures and attorney generals recognizing that tax practitioners are trying to protect their clients. they are formalizing this recognition with changes to regulations or laws to include “safe harbor” provisions that limit or eliminate the fines and penalties for tax practitioners who take proactive action to manage their cybersecurity risks.

more:  how hacker-proof is your firm? | unleashing the power of technology: transforming accountants into trusted advisors | future firm growth requires a mindshift | ai, ocr, nlp & cpas: oh my!   |  accounting nerds, unlock your super powers  | early adopters gain an edge in audit | dustin wheeler: for serious cas success, hire tech teams | csr for cpas: the missing ingredient | donny shimamoto explains how ‘agile’ applies to cpa firms |  staff retention for remote workers | why the future is in risk advisory |  ready for non-cpa “cpa” firms?
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as of december 2022, the following states have some type of safe harbor provision in place:

in contrast, states like california and colorado are taking the opposite approach and penalizing organizations that have data breaches.[iv]

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the three best project management apps to control workflow

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working from home? these three apps can help you collaborate better with long-distance colleagues.

by beth ziesenis
app of the week

it’s probably no surprise that more than half of americans would prefer to work from home. fortunately, technology has progressed so rapidly since the 1980s that more than 80% of americans say their homes are properly prepared for home offices. (a pandemic forcing employees to work from home and companies to adequately prepare for remote employees didn’t hurt the cause, either.)

more apps of the week:  automate captions for videos | can’t read it now? save it for later | don’t lose precious memories: digitize old photos | track your mileage automatically | keep track of your subscriptions | capture testimonials to increase credibility | find an extra set of hands for time-consuming tasks | personalize communication and set yourself apart from competition | waiting to exhale (i.e., can april 19 hurry up?) |
see all: apps of the week here |
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however, keeping your entire team on the same page with regard to objectives, strategies, expectations and deadlines can be a chore. fortunately, there are lots of project management apps out there to help, but how do you know which one is best for you? here, i’ll highlight three of my favorites.

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the first police officer on the scene might be a drone

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the robocops can de-escalate situations and save lives.

by rick richardson
technology this week

in the posh seaside town of santa monica, california, when someone dials 911 for police, a drone is instantly launched from the station’s roof.

officers also respond. however, most of the time, the drone arrives first, flying directly to a set of gps coordinates the controller entered. sometimes, it arrives in less than 30 seconds.

more: electronic skin that can sense touch will transform robotics | what an a.i.-powered workforce means for accountants | smartwatch saves two lives | chatgpt unlikely to replace accountants | looking for investments? check out smart home technology | solar sensors detect wildfires early, saving lives, money | the top hotspot router – and why you need it | chatgpt: what it is. why you need to know.
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“it’s a fundamental change in the way that we can bring policing services to our city,” said peter lashley, a veteran of the force who often pilots the drone from a screen-filled command center inside the police station.
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