Running a cloud service that is suitable for multiple industries in several countries needs a range of constantly-evolving regulatory, compliance and policy requirements. Microsoft offers Office 365 to several different verticals with compliance to various standards. Today, Microsoft yesterday announced that Office 365 Government now supports customer compliance with IRS 1075, which provides guidance to ensure that the policies, practices, controls and safeguards employed by recipient agencies adequately protect the confidentiality of Federal Tax Information (FTI) and related financial data. IRS 1075 also prioritizes security aspects that include data center parameters such as employee activity, data center contractors, limited entry and IRS safeguard reviews.
We are constantly working to ensure that Office 365 meets some of the highest standards for the protection of data. This encompasses hundreds of control requirements across multiple standards, which ensures data protection across the spectrum of application, platform and data center services. Through a comprehensive approach to compliance with industry standards and regulations, we are able to address the stringent requirements of IRS 1075. We will continue to work with the IRS Safeguards team, as well as other regulatory bodies across industries, to ensure our customers have clear and comprehensive assistance when working on risk management in highly regulated environments..
Read more about it here.