Attorneys, accountants and small business owners take note: New IRS rules for tax preparers went into effect Jan. 1.
The new IRS rules include education requirements, background checks, and competency exams for different classes of tax preparers. The changes aim to protect consumers from "the inept and the unscrupulous," a board member with the California Tax Education Council told BusinessWire.
California and Oregon are currently the only states that require tax preparers to meet education and exam requirements. The new IRS rules largely mirror California's rules, which the state adopted more than 10 years ago.
Of course IRS regulations are complicated, and its new rules are no exception. But in general, here are some takeaway points from the new IRS rules: