Thanks to a tax code that scares the you know what out of the American citizenry there are millions of people in the US who rely on tax preparers to help them.
I’m not talking about H&R Block. I’m talking about bosses, the old guy down the street, grandparents, etc., who people rely on to get their taxes right for them. It is a quiet little cottage industry and a good way for people to make some extra money during tax time while alleviating the anxiety of their fellow man.
The IRS however wants a cut of the action.
Now mom and pop preparers must pay $64 annually to the IRS and take a $100 “competency” exam.
A lawsuit has just been filed to fight the fee however.
(From the AP)
“Another plaintiff, John Gambino of Hoboken, NJ, said he believes the new regulations are designed to benefit big tax preparation firms — which support the changes — and attorneys and CPAs who don’t have to take the competency test.
“I view it as crony capitalism” to favor businesses with connections in Washington at the expense of independent preparers, Gambino said.”