Weekly News Round Up: Tax Refunds to Pay Off Debts; Payment Card Security Challenges; and the Personal Finance Stress Test

Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.

This week, we have a story about how Americans plan to use their tax refunds to pay off their debts. In addition, the Senate is investigating an alarming rise in tax scams and identity theft, and we found an article that provides five personal finance stress test tips.

Americans Will Use Tax Refunds to Pay Off Debts

The most popular way Americans will use their tax refunds is to pay down their debt, according to a new survey.

Senate Probes Rise in Tax Scams

The Senate Finance Committee recently heard testimony about the increasing prevalence of tax scams and identity theft, with senior citizens finding themselves especially vulnerable to callers impersonating Internal Revenue Service employees.

Businesses Still Lax Over Payment Card Security

Payment card data security continues to be lax among retailers and other merchants, with four out of five failing interim assessments of their compliance with international security standards, according to a new report.

IRS Times Criminal Prosecutions for Tax Season

Criminal prosecutions by the Internal Revenue Service appear to be timed to coincide with tax season, according to a new analysis.

IRS Understates Number of Inadvertent Disclosures of Taxpayer Info

The Internal Revenue Service generally has adequate processes in place to prevent inadvertent disclosures of taxpayer information to unauthorized people, but it also understates the number of inadvertent disclosures it makes, according to this new government report.

Five Tips for Passing a Personal-Finance Stress Test

The Wall Street Journal is offering the following personal finance tips for dealing with life’s potential financial stressors.