Evidence from a study conducted by the Center for Taxpayer Rights suggests that a large number of paid tax preparers, particularly non-credentialed ones, are making consistent errors when filing returns. Responding to this, the Taxpayer Assistance and Service Act spearheaded by Senators Mike Crapo and Ron Wyden seeks to increase regulatory oversight on tax preparers, potentially imposing higher competency requirements and accountability.
You know that moment when a client walks in, drops a shoebox of receipts, and says, “Don’t worry, my last guy handled everything”? Yeah, that sentence is doing a lot of heavy lifting these days. Because if recent findings are even halfway accurate, a good...
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