Electronic Tax Administration Advisory Committee, or ETAAC on E-filing
Electronic filing of your tax returns is awesome! It’s so convenient that 9 out of 10 Americans E-filed their federal income tax returns in 2019. But did you know that electronic filing has been around since 2007? It didn’t take off that year though due to a number of concerns. Two major concerns were breach of security and identity theft. The ETAAC was formed to investigate and report to congress on issues encountered with electronic filing. Through their efforts, identity theft incidences have dropped by 71% between 2015 and 2018. That’s quite a huge leap in terms of security. A total of $24 Billion dollars of fraudulent refunds for those years have been protected. Bravo IRS and ETAAC! Here’s an in depth article on this subject, posted by Forbes. Be sure to check out their article by clicking here.