August 10, 2022

Baucus Proposal Would Give ‘Legal Authority’ to Regulate Tax Preparers

Finance Committee Chairman Max Baucus (D-MT) released Part Deux of his tax reform proposal today and it mostly addresses penalties for identity theft as well as securing the Social Security Administration’s Death Master File. As enthralling as all this sounds, Baucus's plan also would give "legal authority" for the IRS to regulate tax preparers. A judge brought the rules to a halt earlier this year, finding "the 19th century statute cited by the IRS didn’t let it require preparers to pass competency tests or pay fees." Of course, tax reform has about a snowball's chance in hell of becoming law, so little cause for concern. Although we'd never stand in your way of kvetching about it, anyway. [Bloomberg]

 

 

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

Former and Current Alliantgroup Employees Speak Out About ‘Evil, Toxic, Emotionally Damaging Company’ (NEW UPDATE)

[Update to post originally published on May 25 with a fourth ex-Alliantgroup employee sharing their experience.] One thing I have learned since IRS Criminal Investigation and the Justice Department conducted a court-ordered raid of Alliantgroup’s Houston offices on May 20 is that there are A LOT of horror stories from ex-Ag employees about their experience working […]

Alliantgroup headquarters

The IRS Is Paying an Unwelcome Visit to Alliantgroup (NEW UPDATE) Experts Weigh In On Feds’ Raid of the ‘Blue A’

[UPDATE 13] Jonathan Curry of Tax Notes wrote an interesting article on June 16 about why federal authorities would conduct a court-ordered raid of an established company like Alliantgroup, and he talked to law professors and a tax lawyer about the legal ramifications of that particular action by the Justice Department and IRS Criminal Investigation. […]