Bloomberg Tax
May 6, 2021, 8:46 AM

Make the IRS Regulate Tax Preparers? They Tried That Before

Kelly Phillips Erb
Kelly Phillips Erb

If the current tax season has left you frustrated, you’re not alone. A delayed start—and end—to the filing season, tax law changes, and an IRS processing backlog in the tens of millions have left many taxpayers ready to throw in the towel. That might explain why paid tax preparers are busier than ever, with e-filed returns by paid preparers up 5.4% from last year.

That’s not likely to change. A focus on cryptocurrency reporting, increases in day trading during the pandemic, and new tax credits on the way mean that tax preparation may become even more ...

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