Thursday, September 3, 2009

VSCPA Comments on Proposed Tax Preparer Regulation

The VSCPA has serious concerns regarding potential tax preparer registration. Check out a letter the VSCPA sent the Internal Revenue Service (IRS) on August 31, 2009, regarding Notice 2009-60, Standards of Conduct for the Tax Return Preparer Community and Increased Taxpayer Compliance.

"The VSCPA is extremely concerned about redundant regulation and enforcement on CPAs who prepare tax returns," the letter says, outlining various requirements CPAs must already meet. "Adding an additional level of registration and regulation would only cause confusion and redundancy."

Another concern? The VSCPA believes that creating a registration requirement for all tax preparers could give the public the impression that all tax preparers possess the same level of expertise and knowledge as CPAs, adding to an already existing misconception that all accountants are CPAs.

Instead of adding a separate set of procedures and oversight, the VSCPA suggested that the IRS expand its existing procedures and regulations to include unlicensed preparers.

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