The President has signed into law the Taxpayer First Act, legislation that we’ve supported since the beginning. Starting early last year, NATP worked with Members of Congress to include provisions in this bill that would improve the IRS and better enable NATP members to serve taxpayers.
This act is exciting for tax professionals, as it will:
- Establish an IRS Independent Office of Appeals
- Establish a private debt collection and special compliance personnel program
- Modernize the Internal Revenue Service’s organizational structure
- Expand access to IP PINs nationwide
- Establish a single point of contact for tax-related identity theft victims
- Impose an increased penalty for improper disclosure or use of information by preparers
- Develop an internet platform for Form 1099 filings
This important piece of legislation improves identity protections, requires a plan to modernize the IRS’s structure, enhances customer services, adds an online taxpayer portal and much more. We’ve detailed each section of the bill in our Taxpayer First Act summary (only available for download for NATP members).
NATP will continue to advocate for the need for due diligence consistency across all categories of tax preparation; among them would be paid preparers, tax software, artificial intelligence tools and VITA. It is the position of the association that the term “paid preparer” needs better definition and awareness since it extends beyond the traditional tax professional.
About National Association of Tax ProfessionalsThe National Association of Tax Professionals (NATP) is the largest association dedicated to equipping tax professionals with the resources, connections and education they need to provide the highest level of service to their clients. NATP is comprised of over 23,000 leading tax professionals who believe in a superior standard of ethics and exemplify professional excellence. Members rely on NATP to deliver professional connections, content expertise and advocacy that provides them with the support they need to best serve their clients. The organization welcomes all tax professionals in their quest to continually meet the needs of the public, no matter where they are in their careers.
The NATP headquarters is located in Appleton, WI. To learn more, visit www.natptax.com.
Information included in this article is accurate as of the publish date. This post is not reflective of tax law changes or IRS guidance that may have occurred after the date of publishing. All taxpayer circumstances are different, and NATP recommends contacting research services if you have specific questions about your clients’ tax situations.