It amazing that a CPA who does taxes must be certified, educated and regulated but a tax preparer who has a storefront and a shingle does not. Finally, the Internal Revenue Service “proposed sweeping changes in the way it regulates a host of people who prepare tax returns, outlining how it plans to require registration and competency exams for many who now go largely unregulated.” Read more about this on the Wall Street Journal site.
This is great news even if it doesn’t start until 2011. For this year, make sure you find a reputable tax preparer if you don’t do them yourself. Be wary of anyone who offers a refund loan or promises a big refund.