How well do you know who is preparing your tax returns?
Your tax firm may be contracting your tax return out to a third-party firm in another country. Why? Most outsourcing firms advertise that they can save US tax firms up to 60% in salary expenditures While clients may benefit from lower prices, some are questioning how secure these outsourced companies are. Tim Williams, Vice Chairman of Pinkerton, encourages companies to do their due diligence on security. ”It’s worth the time and effort to dig deeper and ask additional questions about these protocols,” says Williams. “For example, what is the origin of the software/encryption/computing devices they use? I would be skeptical of Russian- or Chinese-made products where “back doors” could be built into the software, allowing nefarious individuals easy access to sensitive data and information at a time when relations are contentious between the U.S. and these nation states.”Click here to read the full article.