Approximately 120,000 taxpayers who filed Form 990-T will be hearing from IRS in the coming weeks, tell them the agency has unknowingly disclosed their information on their website. Exempt organizations, including charities and religious groups, with unrelated business income, must file Form 990-T. Like The Wall Street Journal Note, however, that those with individual retirement accounts that invest in income-generating assets, such as real estate, must also apply. Films by exempt entities must be made public, but films by private individuals are not.
The agency said the problem stemmed from a human marking error last year when Form 990-T became available for electronic filing. As you might have guessed, the bug resulted in the merging of non-public data with public data, all of which are available for download. It wasn’t until weeks ago that an employee discovered the problem and launched an investigation that led to the deletion of data that should not have been made public in the first place.
In its letter, the IRS said the leaked data included personal names and business contact information. The affected taxpayer’s Social Security number, personal income details and other information that could affect their credit have not been made public. Magazinethe company can download some of the data before it’s deleted, says it also includes people’s earnings in their IRAs.
Despite deleting the leaked data, the IRS is still looking into the situation. Treasury Department’s Anna Canfield Roth also said that the agency “directed the IRS to conduct an expedited review of its operations to ensure that the necessary safeguards are in place to prevent data disclosure.” illegal.”
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