Senate Tax Writers Introduce Bill to Regulate Tax Preparers

April 11, 2019, 8:41 PM

A Senate bill introduced April 11 would allow the IRS to require minimum standards for paid tax return preparers in an effort to cut down on tax fraud.

The bill, sponsored by Senate Finance Committee ranking member Ron Wyden (D-Ore.) and committee member Sen. Ben Cardin (D-Md.), would require preparers to demonstrate competency in preparing tax returns and other related documents. It also would impose new continuing education requirements on preparers and says the Internal Revenue Service could rescind the preparer tax identification numbers (PTINs) of those found to be incompetent or fraudulent.

  • Wyden and Cardin ...

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