IRS Tax Preparer Regulation to Boost Continuing Education Classes

Required IRS Tests and Annual Continuing Education Will Increase Demand for Tax Courses & Seminars

On January 4, 2010 the IRS announced its decision to regulate tax preparers and require tests of basic competency, plus annual Continuing Professional Education (CPE). According to the IRS, higher standards will boost protections and service for taxpayers, increase confidence in the system and yield greater compliance with tax laws.

These new regulations will also provide a boost to Colleges that provider adult education and career training in their communities.

Initially, the new rules will require the IRS estimated 900,000 to 1.2 million “unenrolled” tax preparers to register and undergo screening by IRS.  Tax preparers will then be tested for basic competency to be allowed to practice and must also complete 15 hours of annual professional education in tax and ethics to continue to practice.  Previously, tax preparers have been regulated only in California and Oregon.

Individual tax preparers and tax businesses will be seeking tax preparation courses in order to ensure they have the up-to-date knowledge necessary to pass the IRS exam. “This development will greatly increase demand for instructional materials and e-learning courses on tax preparation,” said Chuck McCabe, CEO of The Income Tax School.

The Income Tax School, a division of Richmond, VA-based Peoples Income Tax, has been teaching tax preparation courses for 20 years and has trained thousands of tax preparers from around the country. “We currently have partnerships with many Colleges and have seen increased interest from many others since the IRS announcement,” said McCabe.

McCabe plans to petition the IRS to exempt graduates of its Comprehensive Income Tax Course from the competency testing that will be required by the IRS.  He said, “The IRS will initially exempt EAs, CPAs and attorneys; however, our graduates have equivalent or greater tax knowledge in individual and small business tax preparation than most CPAs and attorneys, and they have passed our comprehensive tax course exams.”

In anticipation of the surge in demand for tax courses, The Income Tax School is building out its infrastructure and increasing its marketing as it solidifies its position as the national standard for tax education for independent tax businesses and professionals.

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About The Income Tax School:

The Income Tax School was formed in 1990 as a division of Peoples Income Tax, Inc. which was founded in 1987 by Chuck McCabe who serves as President and CEO.  The School currently offers 40+ income tax training courses online, ranging from 3 hour CPE programs to 30-60 hour courses, plus a six-course 180-hour Chartered Tax Professional-CTP® certificate program.  The School’s tax preparation course student texts and instructor guides are used by tax, accounting and financial services firms that provide in-house tax training, as well as by many colleges and career schools. The Income Tax School has the Internet infrastructure and distribution channels to become a significant national player in the growing professional career education industry. Complete information about The Income Tax School and course offerings can be found at the school’s website: 

Contact: Terry Judge
(804) 204-1040 / (800) 984-1040