The IRS issued a uncommon apology to billionaire investor Ken Griffin for releasing his tax information to the press, in addition to to different taxpayers whose info was breached, the tax company mentioned in a assertion on Tuesday.”The Inner Income Service sincerely apologizes to Mr. Kenneth Griffin and the 1000’s of different Individuals whose private info was leaked to the press,” the IRS mentioned.
The apology stems from the case of a former IRS contractor named Charles Littlejohn, who was sentenced earlier this 12 months to 5 years in jail for unauthorized disclosure of tax returns. Littlejohn had offered tax return info for Griffin and different rich Individuals to nonprofit information group ProPublica.
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In a press release to CBS MoneyWatch, Griffin mentioned, “I’m grateful to my crew for securing an consequence that can higher shield American taxpayers and that can in the end profit all Individuals.” Starting in 2021, ProPublica printed a sequence referred to as “The Secret IRS Information,” which included the main points of tax returns for 1000’s of wealthy taxpayers, together with Amazon founder Jeff Bezos and Tesla founder and CEO Elon Musk. The protection explored how a few of the wealthiest Individuals reduce their taxes.Littlejohn “violated the phrases of his contract and betrayed the belief that the American folks place within the IRS to safeguard their delicate info,” the company mentioned in Tuesday’s assertion. “The IRS takes its duties critically and acknowledges that it failed to forestall Mr. Littlejohn’s prison conduct and illegal disclosure of Mr. Griffin’s confidential knowledge.”
Ken Griffin, founder and CEO of hedge fund Citadel, on the Qatar Financial Discussion board, on Tuesday, Could 14, 2024.
Christopher Pike/Bloomberg through Getty Photos
Griffin, the founding father of the hedge fund Citadel, is price nearly $42 billion, making him the world’s thirty fourth richest individual, in keeping with the Bloomberg Billionaires Index. The IRS’ apology comes after Griffin on Monday dropped a lawsuit in opposition to the company and the U.S. Treasury Division that he had filed in December over the breach.
“As we reported from the primary day the sequence appeared, we did not know the identification of the supply who offered this trove of IRS information,” a spokesperson for ProPublica instructed CBS MoneyWatch. “After cautious deliberation, ProPublica printed choose, newsworthy tax particulars of a few of the richest Individuals to tell the controversy concerning the equity of our tax system. These tales clearly served the general public curiosity.”The IRS mentioned it has made “substantial investments in its knowledge safety to strengthen its safeguarding of taxpayer info.”It added, “The company believes that its actions and the decision of this case will end in a stronger and extra reliable course of for safeguarding the non-public info of all taxpayers.”
Extra from CBS Information
Aimee Picchi
Aimee Picchi is the affiliate managing editor for CBS MoneyWatch, the place she covers enterprise and private finance. She beforehand labored at Bloomberg Information and has written for nationwide information shops together with USA At this time and Shopper Experiences.
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