New IRS Rules Mean Regulation, Testing of Individual Tax Preparers

Next year, the Internal Revenue Service will require preparers of individual tax returns to register with the government and pass a test to prove their competence. Currently, only three states – California, Oregon and Maryland – regulate all paid tax preparers. The news is significant because, according to the IRA, more than 60 percent of Americans pay someone to do their taxes. Most of the 900,000 to 1.2 million tax preparers are not regulated, and mistakes by preparers can cost you. In...Full Story
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