Intuit to share payroll data from 1.4M small businesses with Equifax (krebsonsecurity.com)

Article summary

Intuit will share payroll data from 1.4 million small businesses using QuickBooks Online Payroll with Equifax, a consumer credit bureau, unless customers opt out by the end of July. This change is part of a new service that will provide automated income and employment verification for employees. The move has raised concerns about data security and privacy, given Equifax's history of breaches. Intuit's decision may affect millions of small business employees who may not have a say in the matter.

Main themes

• data security and privacy
• accounting software and services
• regulatory oversight
• alternative solutions
• user experience and frustration
• government involvement
• small business and self-employment
• credit bureaus and reporting

What commenters say

• The opt-out approach is problematic and may not adequately protect users' data.
• Intuit's decision to share payroll data with Equifax is a potential disaster waiting to happen, given Equifax's history of security breaches.
• Alternative accounting software and services, such as Xero and FreeAgent, may be more secure and user-friendly options for small businesses and self-employed individuals.
• The lack of federal laws and regulations governing data privacy and security is a major concern, and companies like Intuit and Equifax may be taking advantage of this lack of oversight.
• Some commenters have expressed frustration with Intuit's products and services, citing difficulties with receipt scanning and expense tracking.
• Others have suggested that the government would not allow companies like Intuit to sell sensitive data, but this claim is not universally accepted.
• The use of spreadsheets and other manual accounting methods may be a viable alternative for some users, but may not be scalable or practical for larger businesses.
• The development of new accounting software and services, such as Bench and Keeper Tax, may offer more secure and user-friendly options for small businesses and self-employed individuals.