Do you ever wonder what we do with your data when you decide to let us prepare your taxes for you?
Well, since you probably haven’t asked us to do your taxes, I’m pretty sure you have no idea.
But, let me make this clear. We do absolutely nothing with your data. We don’t aggregate it. We don’t send you notices how you can invest your money. We simply hold your data to help us file your taxes next year. Because that’s the law (one of the few privacy laws that exist in this arena).
That’s not what a lot of other tax preparers do.
Which certainly includes those firms like TurboTax and H&R Block.
You see, those folks ‘request’ you to “agree’ with their privacy prompts. And, those are NOT for your benefit. They let the firm “optimize your …. (fill in the vendor’s name) experience”.
Oh, sure, they promise to provide you many benefits for doing so. What they really are doing is preparing to send you advertisements. (Oh, sure, they call them “offers”.) But, when you agree to their “optimization”, these firms will use your income, mortgage data, investments to upsell you. And, make them money. And- it’s not clear if this granted permission is for a month, a year, or forever.
There’s also no guarantee this information will stay in the US. (At least one firm shares that data- once you “agree”- with other firms overseas, like in the Philippines. And, if you think your data is sketchy in the US, wait until you see the “protections” (the lack thereof) that exist in the Philippines.) Oh, and since TurboTax is part of Intuit, that means they can share your data with their other subsidiaries- Mint and CreditKarma, come to mind.
(You do realize you can say no to those requests, right? And, those firms still must prepare your taxes.)
But, if you said yes, you can still revoke those permissions. But, no, it’s not simple. As a matter of fact, these firms make it pretty tough to do so.
Well, Intuit makes it a little simpler… You have to send an eMail to Privacy@Intuit.com , indicating that you no longer agree with the policy and “hereby revoke my consent for use of tax return information”.
H&R Block doesn’t make it clear how you can revoke your permission. (Yes, that means you have to be a pain in their buttocks to get back your privacy rights.)
Caveat emptor, all over again, right?
Interesting. And very deceptive. We are all too gullible, and greedy corporations take advantage of our gullibility. Plus Tax Day was yesterday and people got into last minute panic mode. My tax preparation person did tell me that the filing deadline was only a hard deadline for people who owe taxes, and that people who are owed money have three years. The U.S. government does love to collect, to the point of charging income tax on U.S. citizens who live abroad. It is one of only two countries that bases taxes on citizenship, rather than residency.
Alice-
Not sure I buy your diatribe there. Yes, you can file for up to three years from the deadline and get a refund. However, the deadline is the deadline. The fact that you are not penalized doesn’t change the obligation to file your tax returns in a timely fashion. And, if you are an American citizen, you fall under the rubric of American diplomatic protection wherever you live- which means there is a financial obligation.
We use an EA for our taxes, although they are not complicated, because he also does taxes for my developmentally disabled in law’s trust and is always available to answer questions. When I thought about working part time vs becoming an independent contractor when I retired, he explained tax ramifications to me. We pay for his professionalism and we know he is worth it. I had never even thought of privacy concerns with the “big tax preparer firms”. Now I’m extra glad we use him.
Glad to see you stay protected, Alana!
We try to always keep data private where we can and I also know from experience that trying to undo things is tough.. 🙂
That is fantabulous, Vidya!
Oh my. I guess we really need to read before we sign!
Yes, we do, Dominique!
Your confidentiality notice is the best! Looks like no one can beat your ethics!
One can only hope, Martha! Thanks for the approbation.
Roy, all so true. These days, I get prompts to approve different categories of privacy and data storage from the New York Times newsletter, a fellow blogger, import companies, and almost everyone else. I try to be patient and quickly review the options, checking the ones I want. Thanks for raising the subject!
Glad you are up to date- and safe!
Kudos to you, Kebba!