IRS to seek more regulation of tax preparers
The IRS reported that it is working on new rules that will require paid tax preparers to be licensed. This will improve tax compliance and reduce tax preparer fraud; IRS Commissioner Doug Shulman announced that on June 4, 2009.
A whopping eighty percent of taxpayers get help with their returns, either from paid tax preparers or tax software programs, Shulman told a congressional subcommittee. Surprisingly, tax preparers currently don’t have to be licensed, unless they represent clients in proceedings before the Internal Revenue Service.
Commissioner Shulman said he wants “better leverage” to make sure tax preparers act ethically.
“Paying taxes is one of the largest financial transactions individual Americans have each year, and we need to make sure that professionals who serve them are ethical and ensure the right amount of tax is paid,” Shulman said.
Commissioner Shulman said he would seek input from the industry before making his proposals to President Barack Obama by the end of the year. The proposals could include new regulations or new laws.
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