The Internal Revenue Service is moving into the second phase of its tax preparer regulation initiative by beginning next week to schedule the first competency tests for tax preparers. I used to be in favor of regulation of unenrolled tax preparers because anyone regardless of their education level, criminal background and skill level could hold themselves out [...]
Tags: Regulation of Tax Preparers
Here’s an instant classic from Paul Caron: New York Times op-ed, Lawyers and Accountants Once Put Integrity First, by [former IRS Commissioner] Mark. W. Everson: It will take decades to fully untangle the causes of the 2008 financial crisis, but as our economy fitfully heals, it would be prudent to ask whether lawyers and accountants [...]
Tags: IRS Audits · IRS procedure
Joe Kristan, a very vocal opponent of IRS regulation of tax preparers, wrote this today on his blog: From the Memphis Commercial Appeal: A Memphis woman who admitted to preparing bogus income tax returns has been sentenced to 22 months in federal prison. Cassandra Jordan, 46, also must make $75,000 in restitution to the Internal [...]
Tags: Regulation of Tax Preparers
Douglas French of Mises Economics Blog writes (emphasis is mine): Yes, you were likely concerned that rogue tax return preparers were roaming the country, doing shoddy tax returns for unsuspecting taxpayers. The IRS is fixing this problem by requiring tax preparers to have a Preparer Tax Identification Number (PTIN). Tax preparers must pay $64.25 for the [...]
Tags: Regulation of Tax Preparers
WebCPA reports that thirty-one members of the House have signed a letter to Treasury Secretary Timothy F. Geithner urging changes in the Internal Revenue Service’s proposed plan to regulate paid income tax return preparers: House lawmakers on both sides of the aisle, including nine members of the tax-writing House Ways and Means Committee, have asked the Treasury [...]
Tags: Regulation of Tax Preparers
Now that the IRS gets to decide which of us taxpayers are authorized to prepare tax returns and which of us aren’t, it can make us do just about whatever it wants by merely threatening exclusion. It can even force us to pay it money for the “privilege” of pursuing our chosen livelihoods. Recently the IRS issued regulations prohibiting [...]
Tags: IRS procedure · Regulation of Tax Preparers
The Treasury Inspector General for Tax Administration (TIGTA) issued a report yesterday stating that the IRS failed to make or inappropriately made tax lien determinations in $1.4 billion worth of delinquent tax cases: The IRS protects its claims against taxpayers who owe delinquent taxes by filing Federal Tax Liens (liens), which establishes the IRS’ priority among secured creditors [...]
Tags: Announcements · IRS Liens and Levies · Regulation of Tax Preparers
