Tax-filing websites sending users' financial data to FB: Report

Major tax-filing websites such as H&R Block, TaxAct and TaxSlayer in the US are reportedly sending sensitive financial information to Facebook.
The information received by Facebook could be used by the company to improve its advertising algorithms, no matter whether the person using the tax filing service has an account on Facebook or other platforms operated by Meta, reports The Verge.

Users of the well-known service TaxAct, for example, are required to provide personal information in order to calculate their returns, such as their income and investment information.

A pixel on TaxAct's website sends some of that information to Facebook, including users' filing status, adjusted gross income, and refund amount.

Tax preparation website H&R Block also uses Meta Pixel which is embedded on its site. It collects data on users' use of health savings accounts and the grants and costs associated with dependents' college tuition.

TaxSlayer is another widely used filing service that sends personal information to Facebook as part of the social media platform's "advanced matching" system. It collects data on website visitors in an effort to connect them to Facebook accounts.

"We take the privacy of our customers' data very seriously," Nicole Coburn, a spokesperson for TaxAct, was quoted as saying in the report. - IANS