The federal government’s attempt to rein in the virtually unregulated tax-preparation industry was dealt a serious blow this morning after a federal appeals court upheld a lower court ruling that the IRS overstepped its authority by trying to require registration and testing for all tax preparers. [More]
When 47 States Have Stricter Regulations On Barbers Than On Tax Preparers, Mistakes Are Going To Be Made
If you visit a legitimate barber, hairdresser, or cosmetologist in any state in the U.S., that person will have gone through some sort of state-mandated education, testing, and licensing procedure. Yet only three states have any substantive requirements for someone employed as a tax preparer. Not surprisingly, a new report finds that this lack of quality control results in a large amount of errors, fraud, and abuse. [More]
In what seems to be an effort to lure customers, especially those in the mood to spend after procuring a sizable tax refund, Walmart is offering free tax preparation services for those whose finances aren’t complicated.