Statement of Bill Cobb, president & CEO of H&R Block, following today’s IRS/Industry Summit in Washington, DC on Identity Theft Tax Refund Fraud
“I am pleased to announce that H&R Block has signed the Memorandum of Understanding, along with other members of the industry. The MOU documents the agreements of the broad-based working group on detecting and mitigating identity theft tax refund fraud. I commend Commissioner Koskinen for his continued leadership of this unprecedented effort to build a public/private partnership to fight this evolving threat.
Our goal for the working group was to implement change to better protect taxpayers. The MOU is a good first step, but it is just a small first step. We must seize the momentum and move beyond a set of predominantly voluntary guidelines.
We must get ahead of the fraudsters. To do that, we need to deal with the most pressing challenge – authentication – by collectively developing industry-wide standards to authenticate filers before submission of the tax returns to the IRS and the States in time for tax season 2016. Looking further out, we need a comprehensive framework that governs the end-to-end process, builds layers of defense against fraud attacks, and is adaptive.
There is still much work to do, and not a lot of time to get it done. H&R Block looks forward to advancing the efforts of the working group, and I ask Commissioner Koskinen to continue his strong leadership by developing a clear mandated way forward to solve the problems that remain. The taxpayers are counting on all of us.”
– Bill Cobb, president & CEO of H&R Block
Read Jeff Jones’ statement from the 2018 IRS Security Summit with the new IRS commissioner, tax industry CEOs, and state tax commissioners.
Check out the latest updates now available with H&R Block’s Tax Identity Shield. This is just another way the tax experts are trying to keep clients safe.