Bill > HR6323

This bill addresses tax return preparer regulation and accountability by establishing new rules and penalties for tax professionals. The legislation introduces comprehensive measures to improve the quality and integrity of tax return preparation, including stricter requirements for obtaining and maintaining preparer tax identification numbers (PTINs). Key provisions include establishing more rigorous suitability standards for tax preparers, such as background checks and educational requirements, creating a framework for the IRS to suspend or revoke PTINs for misconduct, and increasing monetary penalties for various infractions like using invalid identification numbers or misappropriating taxpayer refunds. The bill significantly expands the IRS's authority to regulate tax return preparers by implementing a program that evaluates preparers' professional conduct, mandates ongoing education, and provides a process for addressing incompetence or unethical behavior. Additionally, the legislation requires the IRS to publish information about common tax return errors and reasons for preparer penalties, enhancing transparency in tax preparation practices. The bill aims to protect taxpayers by ensuring that tax return preparers meet professional standards and are held accountable for their actions, with provisions taking effect 180 days after enactment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/6323/all-info