The plan is a 28-page template and is designed to help protect tax pros, particularly smaller practice from identity thieves and data breaches. 

Tax pros are required under federal law to have a security plan. In addition, they must report any security event involving 500 or more people to Federal Trade Commission as soon as possible, but no later than 30 days from the date of discovery. They must also report incidents to IRS Stakeholder Liaison and state tax authorities.

The new WISP version highlights best practices for implementing multi-factor authentication, among other topics.

Security tips and the WISP are a key topic at the Nationwide Tax Forum, held in five cities in the United States during the summer.

Available, in Publication 5708 PDF, the WISP begins with basics and walks users through getting started including understanding security compliance requirements and professional responsibilities. It provides an outline for a basic WISP and a sample template. 

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind