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A WISP is a ​Written Information Security Plan that is required for certain businesses, such as tax professionals. The IRS explains: "The Gramm-Leach-Bliley Act (GLBA) is a U.S. law that requires financial institutions to protect customer data.

Who is subject to Circular 230 jurisdiction? State-licensed Attorneys and Certified Public Accountants (CPAs) authorized and in good standing with their state licensing authority who interact with tax administration at any level.

Creating a Written Information Security Plan or WISP is an often overlooked but critical component. Not only is a WISP essential for your business and a good business practice, the law requires you to have one. For many tax professionals, knowing where to start when developing a WISP is difficult.

Federal law requires all professional tax preparers to create and implement a data security plan. The Security Summit group – a public-private partnership between the IRS, states and the nation's tax industry – has noticed that some tax professionals continue to struggle with developing a written security plan.

A WISP is a ​Written Information Security Plan that is required for certain businesses, such as tax professionals. The IRS explains: "The Gramm-Leach-Bliley Act (GLBA) is a U.S. law that requires financial institutions to protect customer data.

What is a Data Security Plan ing to the IRS? In its simplest form, a Data Security Plan is a written document that describes how your firm protects customer data. While most tax preparers are careful with customer data, rarely are these policies and practices written down and approved by management.

The Internal Revenue Service (IRS) It is responsible for determining, assessing, and collecting internal revenue in the United States.

A written information security plan is required under the safeguards rule of the U.S. Federal Trade Commission (FTC), implementing provisions of the Gramm-Leach-Bliley Act, P.L. 106-102. The 1999 law requires financial institutions, which for its purposes include tax and accounting firms, to protect customer data.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232