IRS Pulls Equifax Contract In "Precautionary Step"

And the hits just keep on coming...

Until today's headlines indicating the possibility of another breach of Equifax's security, dip-buyers had been enjoying a few days' relief as analysts clammored to explain how one of the biggest cyberhacks of all time did nothing to hinder Equifax's business model. Tonight, they might just start questioning that as Politico reports The IRS has temporarily suspended the $7.2 million, no-bid contract it awarded to Equifax to verify the identities of taxpayers.

As Politico reports, the short-term suspension means that taxpayers will not be able to establish new accounts through a program called Secure Access, which grants them access to online records and transcripts. Those taxpayers who already have accounts will not be affected, the agency said.

The IRS plans to continue reviewing the security of Equifax's systems during the suspension.


The agency had previously said its hands were tied and it had to keep the contract with Equifax.


"The IRS emphasized that there is still no indication of any compromise of the limited IRS data shared under the contract. The contract suspension is being taken as a precautionary step as the IRS continues its review," agency spokesman Matthew Leas said in a statement.

For now the dip-buyers have slowed down...

In letters to IRS Commissioner John Koskinen, some members of Congress questioned whether Equifax could be trusted to handle taxpayer data and suggested the contract should be revoked.

Is Equifax's business model starting to come into question?


stormcrow Thu, 10/12/2017 - 20:04 Permalink

Misleading headline. Nothing was pulled, just suspended. Someone in government gets a freezer full of cash and then the problem gets swept under the rug when everyone is distracted.

2_legs_bahhhhhd Thu, 10/12/2017 - 20:13 Permalink

"The IRS emphasized that there is still no indication of any compromise of the limited IRS data shared under the contract. The contract suspension is being taken as a precautionary step as the IRS continues its review"

Translation: more than likely, security has been breached, and we need time to to "fix" it.

Its only a matter of time before all this electronic currency suffers a major malfunction.

Identify as Ferengi Thu, 10/12/2017 - 21:12 Permalink

/* Style Definitions */
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As Professor Reynolds asked this morning, if they presume to be our "betters," shouldn't they be better? If they insist that they're smarter than us, shouldn't they be smart?

squid Thu, 10/12/2017 - 21:35 Permalink

This is not a technology problem, its an idiot problem that goes VERY deep. I trace it to the invention of the MBA.The Masters of Bankruptcy Acceleration programs offered at all major universities. Some people refer to it as masters of business administration but I name it based on what the graduates actually do, accelerate the organization they work in towards bankruptcy. Look, if you need two years of university to teach you that you have to spend less running the business then what you have in revenue, then you're much too stupid to be working. In fact, I'm surprised you even have a pulse....but these fuckers, all of them, who were largely responsible for the 2008 crisis and will be wholly responsible for the next one, pay 100 grand a year to get one of these papers from Haaaavaad and corporate America buys into it. I don't get it but unless more people wake up to the MBA scam, this won't end. Squid

Yen Cross Fri, 10/13/2017 - 00:13 Permalink

   Now, all the smart Z/H contributors know and realize why both houses of CONgress voted to lower credit reporting requirements earlier this year.

platyops Fri, 10/13/2017 - 00:22 Permalink

I posted about 2 weeks ago: How does EFX drop to 92 on news of the hack and then go to 104. Who is buying a company that is being sued by thousands prehaps millions of people. Something really stinks on wall street!