On June 8th, an article was released by news organization ProPublica, claiming to have obtained over 15 years worth of confidential IRS information on the United States wealthiest billionaires. ProPublica stated they obtained the tax information leak from an anonymous source, and have not commented on when the data was obtained. In addition to outcry over the tax dollars paid by the ultrawealthy such as Jeff Bezos, Elon Musk, Michael Bloomberg and Warren Buffett, members of Congress and administration officials have expressed concern over how this confidential data was leaked.
An IRS deputy commissioner has stated that the Treasury Department has referred the matter to the FBI for investigation, as well as to the U.S. attorney’s office. There can be potentially severe criminal penalties for leaking confidential tax information like that which was released. The IRS takes the security and privacy of American’s tax information seriously, and have enacted several privacy policies to protect your information.
On Monday, Senate Minority Leader Mitch McConnell of Kentucky joined the call for legal action against those responsible for the tax information leak to ProPublica, and Attorney General Merrick Garland promises to make the investigation his top priority.
If you have any questions about the safety and confidentiality of your tax information, please contact your Henry+Horne advisor.
Haley M. Braun, CPA