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New Rules for Tax Preparers: Competency and Accountability

This act introduces new, mandatory standards for individuals who assist with tax returns. The goal is to enhance their competence and accountability, potentially leading to greater security and accuracy in tax filings for citizens. This should provide citizens with more confidence when using the services of such professionals.
Key points
Mandatory exams and training for tax preparers, including a high school diploma or equivalent requirement.
Regular renewal of qualifications through an exam every 5 years and continuing education every 2 years.
Mandatory background checks (no felony convictions) for tax preparers.
Authority to revoke a tax preparer's identification number for incompetence or disreputable conduct.
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Additional Information
TEAMS Act
Print number: HR 3737
Sponsor: Rep. Vela, Filemon [D-TX-34]
Process start date: 2021-06-04