United States
In the United States, paid tax return preparers are regulated but not licensed by the Internal Revenue Service of the United States Department of the Treasury. There are penalties for failure to disclose the identity of the preparer on the return, for the failure to give the taxpayer a copy of the return, and for negligence in preparing the return.
Practice before the Internal Revenue Service is regulated by Treasury Department Circular No. 230, Regulations Governing the Practice of Attorneys, Certified Public Accountants, Enrolled Agents, Enrolled Actuaries, and Appraisers before the Internal Revenue Service. Most practice is limited to attorneys, Certified Public Accountants (CPAs), Enrolled Agents, and Enrolled Actuaries. Rendering tax advice is also regulated by Circular 230.
Failure to uphold these standards can result in disciplinary action ranging from reprimand to permanent disbarrment from practice.
Tax Professional is a generic term in the United States describing a variety of professions including Enrolled Agents, Certified Public Accountants, Financial Planners, Accountants, Tax Preparers, and some Lawyers.
Until the year 2010, the United States Department of Treasury's Internal Revenue Service did not require certification of individual tax practitioners. As of mid-2010, the IRS was working on proposed changes that will eventually require the registration of almost all paid federal tax return preparers. The new rules will require that some paid preparers pass a national tax law exam and undergo continuing education requirements. See Tax preparation.
In the United States, by far the largest segment of tax professionals are individual tax preparers.
- National Association of Tax Professionals
- 31 U.S.C. § 330
- 5 U.S.C. § 500.
Read more about this topic: Tax Advisor
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