IRS Seeks to Start Regulating Tax Preparers

Monday, January 04, 2010 , , , 3 Comments


The Internal Revenue Service said Monday it will require registration and competency exams for legions of tax-return preparers that now largely escape regulation.

The changes are in response to a six-month IRS study of the tax-preparation industry, and to calls from taxpayer rights' organizations for stronger oversight of paid tax preparers.

The changes will take several years to implement and will not be in effect for the 2010 filing season, the IRS said.

All paid tax preparers will have to register with the IRS and obtain an identification number, which will be included on any returns they prepare.

Besides passing a competency test, paid preparers will also have to meet continuing education requirements.

Attorneys, certified public accountants and enrolled agents will not be subject to the new testing or continuing education regime. They will remain subject to the requirements of their respective licensing bodies.

The Maryland Association of CPAs CPA Success went after H&R Block last January and because we're such a big mean bully, we totally jumped on the bandwagon. I mean really, do you think it might be a good idea to regulate the guys making $9 an hour processing your deductions at the Drive-Thru window of tax prep?

When in doubt, go with a CPA. Duh.

(CPA Trendlines also covered the breakup between McGladrey & Pullen and H&R Block earlier in 2009, which might have something to do with the IRS' decision. Hmmm)

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


patrick the painter said...

Goldman Sachs Conspiracy: The proof is in “The Partnership.”please send this to someone who will help me get out of jail when the FED comes a lookin for me. Or someone who understands hi finance.
The fact that Goldman Sachs re released their book, one year after it’s original copyright date of Sept of 2008, in response to conspiracy theories, proves that the theories have some validity. It’s suspicious enough that the book, a 100 years in the making, was released just one month before the stock market crash. Yes, in the newly revised “Introduction” chapter, Goldman Sachs uses the word conspiracy. I am thrilled that the few of use that wrote on the subject had such an impact that Goldman Sachs found it nesscecary to re release their book.
They also added a last chapter entitled “A Perfect Storm” of course after they could see how Paulson’s inspired plot to crash the markets, and then loot the US Treasury played out. This new last chapter (released one year later) is preceeded by a chapter entitled “Before the Storm.” How cute is that? “Before the Storm” and a “Perfect Storm.” Well get this.
The 1st version came out one month before the stock market crash, and so them using the title “Before the Storm” many months before the crash, making Goldman look a hell of a lot smarter than anyone else. And the fact that they used the word “Before” in the heading of the last chapter of the book, insinuates that they are planning to re release their book after the crash?

beebsblog said...

When in doubt, go with a CPA.

I respectfully disagree.

If you want bulletproof tax return done, you must use a lawyer because your testimony to him or her is covered by attorney client privilege. An enrolled agent or CPA do not have this privilege.

This would be important if some of your deductions were dodgy, say.


Excellent point for *some* of us. ;) Thanks for the clarification.

And I have no idea what you're talking about