IRS Unveils Multi-Prong Plan for Regulation of Tax Preparers

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IRS announces the outcome of its year-long review of tax preparers, outlining a sweeping new effort to regulate the industry through enforcement and education. Calling it “a game changing event for the tax system,” Commissioner Shulman announces a multi-prong approach that he says would improve tax compliance, give taxpayers confidence in the tax system, and help encourage better service. Under the plan, everyone who files a federal tax return as a paid preparer will be required to register and obtain a preparer tax identification number from IRS, Shulman tells reporters.