Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Arming IRS to Stop Tax Preparer Fraud Raised in Biden Plan (2)

April 28, 2021, 1:44 PMUpdated: April 28, 2021, 6:37 PM

President Joe Biden is urging Congress to enable the IRS to regulate paid tax preparers, a step the agency has said is needed to address a persistent area of fraud.

An outline of the American Families Plan, released Wednesday ahead of Biden’s address to Congress, said the new oversight authority is needed because tax preparers are crucial to tax administration. They also play a key role in helping people claim important credits, like the Child Tax Credit, which was expanded under the most-recent pandemic relief package, the administration said.

The IRS for decades has been battling fraudulent preparers who ...