SOURCE: Universal Accounting

Universal Accounting

October 01, 2009 09:48 ET

Universal Accounting: Tax Preparer Registration Coming, Offers Recommendations

Nation's Leading Educational Center for Professional Tax Preparers Sees New Regulations Positively Effecting Tax Payers

SALT LAKE CITY, UT--(Marketwire - October 1, 2009) - Universal Accounting®, the nation's largest training center for accounting, bookkeeping and tax preparation with its Profit Expert™ Programs, announced today its recommendations regarding imminent Internal Revenue Service (IRS) tax preparer regulations. Universal Accounting representatives participated in three IRS panel discussions of tax preparer registration and regulation, with the final public forum held yesterday, Sept. 30, 2009 in Washington, DC. As the nation's largest educational center for tax preparers, assisting thousands of students to start their own tax business, Universal Accounting is a respected voice on the tax preparer industry.

Overview of Universal Accounting recommendations:

--  All tax preparers, including Certified Public Accountants (CPAs),
    attorneys and Enrolled Agents (EAs) should be required to register
--  Require annual continuing professional education to ensure all
    preparers are up to date with changing tax laws and practices
--  Initial ethics training should be required at the time of initial
    registration
--  Evaluate registration and educational requirements after three years
    

"A national registration system would benefit tax preparers and taxpayers alike by instilling confidence and holding tax preparers accountable for every return," says Allen Bostrom, CPA, President of Universal Accounting. "Testing requirements are premature at this time -- the main objective is get every person who signs a tax return registered, and ensure each has annual education about current tax laws.

"Although there are cases of fraud and incompetence in the tax industry, I believe that the great majority of tax preparers are ethical and competent in their craft," Bostrom continued. "Requiring registration alone would likely weed out undesirable candidates, immediately having a positive impact on those running their own tax preparation business and tax payers alike."

Universal Accounting welcomes any feedback about this topic and can be reached via Bostrom's blog at www.allenbostrom.com and on Twitter www.twitter.com/AllenBostrom or www.twitter.com/universalacct.

ABOUT UNIVERSAL ACCOUNTING

Celebrating its 30th year in business, Universal Accounting specializes in helping people become Profit Experts™ for their organizations through its accounting-based products and services. Universal Accounting flagship products include its Professional Bookkeeper Program, Professional Tax Preparer Program, and Quickbooks setup and support programs.

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Contact Information

  • Contact:
    Brad Rutledge
    Rutledge Consulting Group
    Email Contact
    801-824-6218