Sec. 2. Regulation of tax return preparers
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Subchapter A of chapter 80 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: The Secretary shall— establish a program to license or certify tax return preparers subject to this section, regulate such tax return preparers, and before licensing or certifying a person as a tax return preparer subject to this section, require that the person demonstrate— good character, good reputation, necessary qualifications to enable the person to provide to taxpayers valuable service as a tax return preparer, and competency to perform the functions of a tax return preparer.
The Secretary shall require tax return preparers subject to this section to pay a reasonable fee for licensing or certification under this section. The Secretary shall, by rule, require tax return preparers subject to this section to provide a disclosure statement to taxpayers that shall contain statements— identifying the amount of fees such tax return preparer charges for preparing a Federal income tax return, filing a Federal income tax return, or executing a refund anticipation payment arrangement, and identifying the average amount of time in which a taxpayer who files a Federal income tax return electronically can expect to receive a refund by mail, according to information provided by the Internal Revenue Service.
After notice and opportunity for a hearing, the Secretary may take any enforcement action against a tax return preparer subject to this section who— is incompetent, is disreputable, violates regulations prescribed under this section, or with intent to defraud, willfully and knowingly misleads or threatens a taxpayer. A tax return preparer is subject to this section if such preparer is not subject to section 330 of title 31, United States Code. For purposes of this section— See section 7701(a)(36) for the definition of a tax return preparer.
The term refund anticipation payment arrangement has the meaning given such term by section 1029B(d)(2) of the Consumer Financial Protection Act of 2010. . The table of sections for subchapter A of chapter 80 of the Internal Revenue Code of 1986 is amended by inserting after the item related to section 7811 the following new item: Sec. 7812. Regulation of tax return preparers. . The amendments made by this section shall apply with respect to returns filed after December 31, 2015.