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How Charlatans, Creeps, and Ghosts Plague the Tax Profession

AICPA backs bill to regulate tax practitioners.

By CPA Trendlines Research

Here’s a shocking stat from the Treasury Department:

“… unregulated preparers who lack the training to provide accurate tax assistance … submit more returns than all other preparers combined.”

MORE: Grappling with the Tax Gap | Wealthiest Taxpayers Cheat IRS Out of $400 Billion a Year | 173% Increase in IRS Correspondence Backlog | Hunker Down: The IRS Backlog Isn’t Going Away Anytime Soon | The IRS Studebaker Bomb | Imagine IRS ‘Concierge’ Service. Just Imagine. | IRS Has Recruiting Problems, Too
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That sounds like trouble in a number of ways:

  • Unwitting taxpayers may be paying more taxes than they owe.
  • Taxpayers may be left liable for shoddy or shady tax preparation.
  • The IRS may be collecting less than it could.
  • Taxpayers may be left in a lurch when the IRS has questions but the preparer has disappeared.