WASHINGTON – The IRS is refunding a total of $10 million to thousands of tax preparers who paid to take a competency test.
The IRS said about 89,000 tax preparers paid $116 apiece to take the test. The agency said Thursday it is issuing refunds to those preparers.
The Obama administration has proposed giving the IRS the authority to regulate paid tax-return preparers. As it now stands, there are no federal rules governing who can charge clients to prepare their tax returns.