LOCATIONS
HOUSTON
16225 Park Ten Place, Suite 500
Houston, TX 77084
Century City
10100 Santa Monica Blvd., Suite 300 
Century City, CA, 90067
CHICAGO
30 S. Wacker Drive, 22nd Floor
Chicago, IL 60606
NEW YORK
590 Madison Avenue, 21st Floor
Manhattan, NY 10022
SHERMAN OAKS
15233 Ventura Blvd Suite 500 
Sherman Oaks, CA 91403
VIRGINIA
999 Waterside Drive, Suite 2600
Norfolk, Virginia, 23510
  • RSS Social Icon
  • Facebook Social Icon
  • Yelp Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon

© 2018 Optimum Wealth Management   Privacy Policy    Terms of Service

“The tax resolution companies reference herein are not law firms nor are such representations being made. While they may employ attorneys, CPA’s and enrolled agents pursuant to IRS Regulation Circular 230, the use of the term ‘Tax Attorney’ is used as a general or generic term referencing attorneys seasoned in aspects of tax relief and collection work. They may or may not have a specialized degree in taxation or be individually licensed in your particular state.”

IRS Puts Equifax Contract on Hold After Huge Security Breach

October 16, 2017

The Internal Revenue Service has temporarily suspended a contract worth more than $7 million they recently awarded to Equifax following a security issue with the beleaguered credit reporting agency’s website on Thursday.

 

Equifax, which disclosed last month that cyber criminals breached its systems between mid-May and late July and made off with sensitive data on 145.5 million people, said on Thursday it shut down one of its website pages after discovering that a third-party vendor was running malicious code on the page.

 

“The IRS notified us that they have issued a stop-work order under our Transaction Support for Identity Management contract,” an Equifax spokesperson said on Friday.

 

“We remain confident that we are the best party to perform the services required in this contract,” the spokesperson said. “We are engaging IRS officials to review the facts and clarify available options.”

The IRS is the first organization to say publicly that it is suspending a contract with Equifax since the credit reporting agency’s security problems came to light.

 

Atlanta-based Equifax said its systems were not compromised by the incident on Thursday, which involved bogus pop-up windows on the web page that could trick visitors into installing software that automatically displays advertising material.

 

Still, the IRS said it decided to temporarily suspended its short-term contract with Equifax for identity-proofing services.

 

“During this suspension, the IRS will continue its review of Equifax systems and security,” the agency said in a statement. There was no indication that any of the IRS data shared with Equifaxunder the contract had been compromised, it added.

 

The move means that the IRS will temporarily be unable to create new accounts for taxpayers using its Secure Access portal, which supports applications including online accounts and transcripts. Users who already had Secure Access accounts will not be affected, the IRS said.

 

IRS granted the $7.25 million contract to Equifax on Sept. 29, weeks after Equifax disclosed the massive data hack that drew scathing criticism from several lawmakers.

 

“From its initial announcement, the timing and nature of this IRS-Equifax contract raised some serious red flags … we are pleased to see the IRS suspend its contract with Equifax,” Republican Representatives Greg Walden and Robert Latta said in a joint statement on Friday.

 

“Our focus now remains on protecting consumers and getting answers for the 145 million Americans impacted by this massive breach,” they said.

 

Government contracts in areas such as healthcare, law enforcement, social services, and tax and revenue, are major sources of revenue for Equifax.

 

In 2016, government services made up 5% of Equifax‘s overall $3.1 billion in revenue, accounting for 10% of its workforce solutions revenues, 3% of its U.S. information solutions revenues, and 7% of its international revenues, according to a regulatory financial filing.

 

 

 

Please reload

BBB-A-Rating.png