• Are You Prepared? Big Changes Coming for Federal Tax Return Preparers
  • January 26, 2010 | Authors: Valentina Minak; Phillip A. Pillar
  • Law Firms: Greenberg Traurig, LLP - McLean Office; Greenberg Traurig, LLP - Philadelphia Office
  • In the past few weeks, the Internal Revenue Service (IRS) made two major announcements affecting federal income tax return preparers. First, the IRS proposes a system of oversight for federal tax return preparers. Second, the IRS expanded and clarified the permissible uses of tax return information (TRI) under Section 7216 of the Code. The TRI guidance is effective immediately and the preparer regulation is coming soon.