AICPA Supports IRS Plan to Register All Tax Preparers and

Expresses Concern Over Wider Plan to Certify Non-CPAs

The American Institute of Certified Public Accountants supports a proposal announced today by the IRS to regulate U.S. tax preparers by requiring nationwide registration of paid tax return preparers in 2011. The IRS’s goals are to enhance compliance and elevate ethical conduct of tax preparers which are consistent with the AICPA’s code of conduct and tax standards.

“The AICPA worked closely with the IRS during the public comment period leading up to this proposal and we believe this change will foster greater compliance with the tax code and better, more reliable service for U.S. taxpayers across the board,” said AICPA President and CEO Barry Melancon.

“However, we have concerns about the IRS plan to provide tax preparers who are not already CPAs, enrolled agents or attorneys with a certification based on limited qualifications,” Melancon said. “A new IRS examination process may cause confusion among taxpayers about the relative qualifications of tax return preparers.”

The IRS plans to conduct a campaign to educate the public about the need to regulate tax preparers and the AICPA will work with the IRS to help it implement the recommendations to meet both the public interest and CPA practice requirements.

Visit our website for updated information on this topic: www.ascpa.org

Many people enjoy the convenience of doing all their banking over the Internet, but some consumers worry about the safety of their online transactions. The Alabama Society of CPAs recommends that you ask these questions to ensure that your online bank dealings are secure.

DO I KNOW WHO I’M DEALING WITH?
Many legitimate banks offer online options, but there are also a few scammers out there using the Internet to cheat people out of their money or gain access to their personal information so that they can use it in illegal transactions. Before you open an account with an unknown organization, read up on the information they provide online to see how long it has been in business and whether they are regulated by state and federal banking authorities. You can also find out more information in the “Bank Find” section of the Web site of U.S. Federal Deposit Insurance Corporation, a government agency, at www.fdic.gov. If the bank’s name is a familiar one, be aware that some con artists use sound-alike names that trick people into believing they are dealing with a well-known organization. Double check the full organization name and spelling to be sure you’re working with the right bank. <<Read Full Article

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