By Kim Dixon
WASHINGTON, Jan 4 (Reuters) – The U.S. tax agency will propose new rules to regulate paid tax preparers, including mandatory registration with the government and competency testing for those not already subject to professional exams.
With more than 80 percent of Americans using a tax preparer or software to complete their tax returns, the new rules are aimed at boosting standards within a fragmented industry and increasing revenue to the government, Internal Revenue Service Commissioner Doug Shulman said in a statement on Monday.
“It’s critical to taxpayers and it’s also critical to the revenues of the country,” Shulman said in a briefing with reporters.
Companies including H&R Block and Jackson Hewitt may also be required to pay new fees under the plan.
Under current law, anyone can prepare a tax return for a fee, with virtually no standards.
