Archive for Tuesday, January 5, 2010

Tax preparers to face new IRS regulations

January 5, 2010

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— The IRS plans to require tax preparers to pass a test and register with the government to better police a largely unregulated industry used by most taxpayers.

The Internal Revenue Service says there could be more than a million people offering tax preparation services. Most offer sound advice, IRS Commissioner Doug Shulman says, but many don’t and the agency knows little about them.

The new regulations, announced Monday, won’t be in effect for the current filing season — individual tax returns are due April 15. But Shulman said tax preparers will be held to higher standards in future years as the IRS steps up its oversight to help reduce fraud and errors.

Comments

SettingTheRecordStraight 5 years, 7 months ago

Everyone should be outraged at our nation's tax code. Has anyone seen the latest H&R Block tax manual at Borders lately?

It's long past time to abolish the IRS (and all its loopholes) and institute the FAIR Tax.

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