Law Offices of Connie Yi, PC - estate planning
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

IRS loosens requirements for tax preparers

| Feb 4, 2013 | Uncategorized |

Like many people in California and across the country, you may choose to hand over a stack of paperwork to a professional tax preparer when tax season arrives. It can be an easy way to get your taxes taken care of without spending hours poring over documents and trying to navigate complex IRS forms.

While it may seem like a worry-free alternative, relying on a paid preparer is not a guarantee that you don’t have to worry about your taxes. Even if all you do is sign your forms before filing, you may be vulnerable to tax litigation or other IRS action. And a new announcement by the IRS makes it more important than ever to make sure your preparer is legitimate and qualified.

Last year the IRS required preparers to undergo 15 hours of continuing education from an approved provider. They also had to pass an annual test that cost $116 per attempt. This requirement was meant to make sure preparers were up to speed on tax law and requirements, with an aim of protecting taxpayers.

However, the IRS recently announced that it will not be enforcing that requirement this year. A federal court ruled that the IRS does not have the authority to enforce such a regulation and enjoined the organization from enforcing those rules. California, however, has its own system for regulating tax preparers.

With the IRS easing up on its requirements for tax preparers, it is more important than ever for consumers to do their own homework to make sure their prepares is reliable. Academic credentials, good client testimonials and other qualifications all may be signs of a good preparer.

If you have concerns about your tax return it may be wise to consult an experienced tax law attorney. He or she can help guide you through the tax code and protect your personal and financial interests.

Source: The San Francisco Chronicle, “IRS giving up on regulation of preparers,” Kathleen Pender, Jan. 22, 2013

Archives

FindLaw Network

Recent Blog Post

Is estate planning necessary for young people?

Misconceptions exist about the relationship between age and estate planning. Yes, older people may prioritize estate planning for reasons related to advancing age and health concerns. That does not mean only older California residents benefit from the process. Young...

What are the responsibilities of a fiduciary?

Residents of California may want to learn more about the role of the fiduciary and their responsibilities. Because fiduciary duty may be a requirement among certain professions, clients and professionals should know more about what this is. The meaning of fiduciary...

5 factors to consider when choosing a guardian

For parents, one of the biggest reasons they decide to create an estate plan is to ensure their child will be cared for no matter what. It isn’t easy to think about a tragedy where a child may lose both their parents before they turn 18, but parents have to plan for...

View More Blog Posts