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AICPA Supports Tax Preparer Regulation

AICPAThe American Institute of CPAs has given its support to a proposed law that would regulate tax return preparers. The organization sent a letterin support of the bill, recently to Senators Rob Portman and Ben Cardin, who are the sponsors of  Protecting Taxpayers Act, S. 3278, 

The AICPA letter says the proposed law would enable the Internal Revenue Service to “act swiftly and efficiently to stop preparers from continuing to file inaccurate and fraudulent tax returns.” Its provisions included giving the IRS the ability to sanction tax return preparers and revoke preparer tax identification numbers.

The law would exempt credential preparers such as CPAs and tax attorneys.

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