January 13, 2009
Wednesdays @ 2pm EST
During this tax return filing season, what (or WHO) you don’t know can hurt you – by causing you to owe more in tax dollars and penalties!
Why?
Because the person who prepares your tax return may not be a qualified tax professional.
Whether qualified or not, any person may prepare a federal tax return for any small business or individual taxpayer – and charge a fee. The IRS estimates that there are between 900,000 and 1.2 million individuals preparing tax returns for a fee.
Amazingly, the majority of these tax return preparers do not pass any government or professionally mandated competency requirements before they prepare a federal tax return—so let the BUYER BEWARE!!!
To address this potentially financially dangerous tax situation for the small business or individual taxpayer, the IRS has proposed that all tax return preparers be subject to ongoing competency testing, continuing education requirements, ethical standards, and centralized IRS authority.
What does all this mean for taxpayers and tax return preparers?
Bob Kerr is the Senior Director of Government Relations for the National Association of Enrolled Agents (NAEA). He has been involved in the long process that has now resulted in these new requirements.
On the Tax Trouble Help Show, Bob shares his unique insight into these sweeping changes that will change the tax return preparation landscape for the better — and forever.
All of this with Lyn and Mike — and laughs from HB Sanders! Plus tax news that you can use on the Tax Trouble Help Show!
Lyndon "Lyn" Ford MBA, Enrolled Agent Former IRS Agent
