Sending sensitive information to accountant

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Post Reply
Topic Author
cabfranc
Posts: 272
Joined: Tue Jun 25, 2019 12:46 pm

Sending sensitive information to accountant

Post by cabfranc »

When sending tax documents to your accounted on an encrypted portal, do you redact information such as account numbers on bank and brokerage documents? Or is this unnecessary? If so, what software is recommended other than Adobe?
Nummerkins
Posts: 674
Joined: Tue Jun 01, 2010 4:41 pm

Re: Sending sensitive information to accountant

Post by Nummerkins »

Why does it matter? Don't they already know your address, SSN, DoB, etc along with the rest of your financial picture?
Today's high is tomorrow's low.
Topic Author
cabfranc
Posts: 272
Joined: Tue Jun 25, 2019 12:46 pm

Re: Sending sensitive information to accountant

Post by cabfranc »

Nummerkins wrote: Sun Jan 24, 2021 9:16 am Why does it matter? Don't they already know your address, SSN, DoB, etc along with the rest of your financial picture?
I guess that's true, though I just feel funny about sharing unnecessary information.
L82GAME
Posts: 616
Joined: Sat Dec 07, 2019 8:29 am

Re: Sending sensitive information to accountant

Post by L82GAME »

Confirm with your accountant that the portal is encrypted by which you upload to a standalone https: site usually requiring a password, or the input of info only you possess. If these requirements are met, you shouldn’t need to redact info.
"Simplify, simplify, simplify! I say, let your affairs be as two or three, and not a hundred or a thousand…” - Thoreau
mpsz
Posts: 516
Joined: Sat Jan 09, 2016 6:11 pm

Re: Sending sensitive information to accountant

Post by mpsz »

If you "redact" information through your computer, note that it may not be effective, at all, depending on how it's performed. Some PDF software adds your redaction/annotations in a layer on top of the sensitive number and other software could allow this to be removed, or the document may still make your account number searchable. So if you really needed to redact, the safest practical way is to print, redact, scan.

That being said, I wouldn't worry about redacting it if it's going somewhere secured.
User avatar
ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: Sending sensitive information to accountant

Post by ResearchMed »

mpsz wrote: Sun Jan 24, 2021 9:28 am If you "redact" information through your computer, note that it may not be effective, at all, depending on how it's performed. Some PDF software adds your redaction/annotations in a layer on top of the sensitive number and other software could allow this to be removed, or the document may still make your account number searchable. So if you really needed to redact, the safest practical way is to print, redact, scan.

That being said, I wouldn't worry about redacting it if it's going somewhere secured.
If the quality of the document isn't important, e.g., the accountant will be copying copying the numbers from a draft version to software, then it should also work to copy the PDF pages and paste them all into one Word doc. That at least saves the scanning step for those without a scanner. Or those who are a bit lazy :wink:

Is anyone aware of any security problems with this, in terms of what might be hidden in a PDF? Or anything else?

RM
This signature is a placebo. You are in the control group.
123
Posts: 10415
Joined: Fri Oct 12, 2012 3:55 pm

Re: Sending sensitive information to accountant

Post by 123 »

If you start redacting anything it will likely increase the chance of errors and oversights by anyone assisting you (tax preparer or accountant). This is particularly true if you have or had at anytime during the tax year (simultaneously or sequentially) two or more accounts with the same bank/broker/financial organization. You may recognize distinct accounts by their holdings or activities, that may not be apparent to someone else at first glance.
The closest helping hand is at the end of your own arm.
casun
Posts: 97
Joined: Mon Apr 18, 2016 5:44 pm

Re: Sending sensitive information to accountant

Post by casun »

if the portal is secure, redactions are unnecessary.
NYCaviator
Posts: 1967
Joined: Sat Apr 09, 2016 5:06 pm
Location: NYC

Re: Sending sensitive information to accountant

Post by NYCaviator »

I'm surprised at how many people still use unencrypted e-mail for sensitive information. We were looking around for a new CPA last year, and one of the questions we asked was whether they had a secure portal for clients to upload documents. I was surprised at how few did. A few even asked us to email them the last year's tax return so they could review it. :oops:
User avatar
Bogle7
Posts: 1984
Joined: Fri May 11, 2018 9:33 am
Location: In the Witness Protection Program

Re: Sending sensitive information to accountant

Post by Bogle7 »

NYCaviator wrote: Sun Jan 24, 2021 5:25 pmI'm surprised at how many people still use unencrypted e-mail for sensitive information.
My tax guy has a secure portal.
I don't bother with it. I just send a zip file with my 20 files/forms.
The odds of someone stealing the data are minuscule.
I am not paranoid.
The FBI van in front of my house is capturing all my keystrokes anyway.
Old fart who does three index stock funds, baby.
h82goslw
Posts: 493
Joined: Fri Jun 17, 2016 5:44 am

Re: Sending sensitive information to accountant

Post by h82goslw »

Bogle7 wrote: Sun Jan 24, 2021 5:35 pm I am not paranoid.
The FBI van in front of my house is capturing all my keystrokes anyway.
😄😄
slickracer
Posts: 131
Joined: Sat Dec 26, 2020 9:00 am

Re: Sending sensitive information to accountant

Post by slickracer »

I learned recently that you can edit PDF documents in Word, then print them back to a PDF.
Post Reply