Congress Requires Self Preparers and Consumer Tax Software to Check for Improper Tax Credits
 

Congress Requires Self Preparers and Consumer Tax Software to Check for Improper Tax Credits

The $1.1 trillion spending bill passed by Congress this week and signed into law by President Obama on Tuesday contains a provision directing the Treasury Department to implement uniform standards for taxpayers claiming refundable credits such as the Earned Income Tax Credit to stem improper payments.

The language contained in the recently passed federal appropriations bill directs “… the Department of the Treasury to ensure that the same questions are being asked of taxpayers whether they are preparing their returns with a paid tax preparer or via do-it-yourself methods such as paper forms, preparation software, or online preparation tools…” Read more on Accounting Today.