Accounting News

Tuesday, July 24, 2007
AICPA Seeks Changes for Tax Preparers

Provisions in the new Iraq war funding bill may have large impacts on tax preparers. The provisions went into law in May are expected to increase tax preparation fees charged by CPAs. The increased costs are the result of higher reporting standards. These higher standards may also have the unintended consequence of excessive disclosure for routing tax returns. This would burden the IRS with more work to verify the return.

The AICPA is leading the charge to repeal these new provisions.

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