Tax Relief for Identity Protection Services

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In 2015, following numerous customer data security breaches at major U.S. companies, the IRS announced special tax relief to breach victims who were provided identity protection services as a result of the breach. In January 2016, the IRS has extended that relief a step further. Specifically, in response to comments solicited in connection with the 2015 announcement, the IRS has provided special tax relief to individuals who receive no-cost identity protection services before a data breach.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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