Christopher Rizek Comments in Politico on Companies Mining Tax Data

Intuit’s plans to buy Credit Karma are putting a spotlight on an overlooked, though sensitive, issue: how tax preparers can cash in on the information their clients provide in tax returns.

Credit Karma, which allows anyone to file for free, uses their tax data — with their permission — to tailor ads to them for things like credit cards.

. . .

“Every line on your return — somebody out there cares about that from a financial services perspective,” said Chris Rizek, an expert on tax privacy rules at the firm Caplin & Drysdale.

“We live in a data economy — information is the most valuable thing out there,” he said.

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