The IRS Regulates Mom-and-Pop Tax Preparers Out of Business, Just in Time for Tax Season!
As the year comes to a close, those W2s and 1099s are set to start rolling in. But on December 31, new IRS regulations will go into effect that will put mom-and-pop tax preparers out of business. The Institute for Justice has been fighting to delay or stop implementation of the new rules, but it looks like the good guys aren't going to win this one in time for the 2012 tax season:
In a twist that will surprise exactly no one, H&R Block and the other big tax prep firms are on board with the new rules, which throw up additional certification requirements, continuing education mandates, and other expensive barriers to entry for their smaller competitors.
The regs are part of an IRS power grab—there was no congressional authorization for these new regulations.
But hey! Since the budget mess is likely to delay the processing of tax returns this year anyway, you might as well take your time and figure out how to do your returns yourself this cycle, right? You probably won't be seeing that refund check for a while no matter what.