Bill > HR1983

This bill aims to enhance the regulation and accountability of tax return preparers by amending Title 31 of the United States Code. The legislation introduces comprehensive measures to improve the professional standards of tax return preparers, including requiring them to obtain a unique identifying number, pass competency standards, complete annual continuing education, and undergo background checks. The bill empowers the Secretary of the Treasury to regulate tax return preparers, with the authority to rescind their identification numbers if they are found to be incompetent or unreputable. Additionally, the bill includes provisions for exempting preparers who have already met comparable state licensing requirements. The legislation also mandates the Internal Revenue Service (IRS) to implement technological updates, such as developing an algorithm to identify taxpayers at risk of economic hardship and establishing information security standards for tax software providers. These changes are designed to protect taxpayers, improve tax return preparation quality, and enhance overall tax administration by ensuring that tax return preparers meet specific professional and ethical standards.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/1983/all-info