Tax Industry Talk

Which is worse for tax preparers, the McCain or Obama tax plan?

The Obama Tax Plan "...could significantly reduce the workload of some tax accountants and push others out of business altigether..." according to an article in the September 22 issue of Accounting Today (see full article at link below).  In a previous post in Tax Industry Talk, an article was referenced regarding McCain's desire to enable taxpayers to eliminate the cost of tax preparers.

http://www.webcpa.com/article.cfm?articleid=29138&pg=ros

IRS Regulation of Tax Preparers Coming Soon?

Will the Congress soon pass legislation to require the IRS to regulate unenrolled tax preparers?  According to an Accounting Today article (link below) the recent GAO "study results boost preparer registration movement," and the Oregon model is viewed as the most likely to be adopted by IRS.

Do you think regulation of tax preparers is likely?

How would this impact the tax industry?

http://www.webcpa.com/article.cfm?articleid=29434&pg=ros

McCain would eliminate tax preparers - Should tax preparers vote for him?

Tax simplification has been a mainstay of McCain's stump speeches since April, when he backed creation of an optional second tax system based on a two-rate structure. "We will simplify the tax code so people can understand it and do their tax returns themselves," McCain said in a September speech.

Full article:

http://www.taxanalysts.com/www/features.nsf/Articles/386A174BD7DB9233852574DC004D2374?OpenDocument