Preparer regulation will be focus of taxpayer advocate

07/1/2009 | WebCPA

Regulation of tax return preparers will be a priority over the course of the next year for Taxpayer Advocate Nina Olson. In a report, Olson said many preparers submit inaccurate returns. "This conduct usually results in understatements of tax (reducing federal tax revenue and potentially subjecting taxpayers to enforcement actions) and sometimes results in overstatements of tax (causing taxpayers to pay more than they owe)," she wrote to Congress.

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