Cybersecurity is important year-round, but threats increase during Tax Season. Learning cyber awareness, securing your data, and combatting identity theft can save you and your sensitive data in the future. Secure your data Your small business likely stores a lot of sensitive data on multiple devices – about your business and its finances, about yourself and your employees, and about your customers. Cybersecurity is all about securing this sensitive data. Purchase software Increasing your cybersecurity efforts often starts with purchasing new software for your devices, including: Anti-virus software Firewall software VPN Businesses typically have these pieces in place for their work in the office, but with more businesses working remotely, it’s critical that every device you use has this software – including your cell phones. Many software companies offer all three solutions in one package, often called a suite, at reasonable prices. Purchasing this software is critical for your business’s cybersecurity throughout the entire year. Use multi-factor authentication To secure your online accounts, it’s best to use multi-factor authentication (MFA). MFA can be used on devices, bank accounts, email accounts, file hosting accounts, social media accounts, and more. The IRS said, “In 2021, all online tax preparation products for tax professionals will include an option for using multi-factor authentication.” This means your tax-related accounts will likely require MFA soon. Combat identity theft The easiest way you can combat identity theft is to be vigilant when it comes to identifying phishing attacks and suspicious activity. According to the IRS: The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. This includes requests for PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts. If you …
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