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Wilmington NC Accountant comments on IRS Tax Preparer Regulations

Wilmington NC Tax Accountant

Gary Bode, CPA: the IRS is trying to protect taxpayers with new regulations on tax preparers

Several of our past posts focus on tax preparer fraud.  The IRS oversight agency publishes a blurb about specific infractions when tax  preparers are convicted.  While some convictions  involve taxpayer collusion, others are obviously manipulative and based on greed.  

New IRS tax preparer regulations are being phased in.  Generally speaking, these new IRS tax preparer initiatives affect non CPA, non tax attorney and non enrolled agents (whew)! 

Phase One

Amid some admitted vagueness, phase one requires all tax preparers to obtain a PTIN (preparer tax identification number).  This helps identify individual tax preparers that previously submitted their work under the umbrella of, say, a national tax chain franchise.  The main focus seems to be on individual federal tax return (Form 1040) errors. 

Phase Two

Phase two will require competency exams, in specific areas of basic Form 1040 tax preparation.  A real service to the public.  Criminal background checks, including electronic finger printing will be required too!

IRS Protecting Taxpayers

The main focus of the IRS is still collecting taxes.  But the new regs are an example of them protecting the public.  In this case from incompetent and fraudulent tax preparers.

 We’re a Wilmington NC CPA firm offering a friendly mix of expertise and customer service.  For a free initial consult, please call (910) 399-2705.


Few CPAs disagree with the IRS on these initiatives.  But the IRS caused a lot of confusion with their implementation.  All phases were to be in place last year.  Then initial registration was delayed.   Existing exempt tax preparers had to re-register.   Simultaneously, important issues like the actual tax laws weren’t finalized until December.  

3 comments to Wilmington NC Accountant comments on IRS Tax Preparer Regulations

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