[Congressional Record Volume 161, Number 51 (Thursday, March 26, 2015)]
[Extensions of Remarks]
[Page E438]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         INTRODUCTION OF TAX RETURN PREPARER ACCOUNTABILITY ACT

                                 ______
                                 

                            HON. STEVE COHEN

                              of tennessee

                    in the house of representatives

                        Thursday, March 26, 2015

  Mr. COHEN. Mr. Speaker, yesterday I introduced, along with my 
colleagues Reps. Robert ``Bobby'' Scott, Eleanor Holmes Norton and 
Carolyn Maloney, H.R. 1609, the Tax Return Preparer Accountability Act, 
which would provide explicit authority for the Internal Revenue Service 
(IRS) to regulate tax return preparers.
  As we near April 15th, millions of taxpayers will pay someone to help 
them fill out their tax returns. Many of these tax preparers are honest 
and trustworthy. But, unfortunately, too many of them take advantage of 
their customers or help their customers engage in tax fraud themselves.
  In Memphis, my Congressional district, a company named Mo' Money 
Taxes was caught charging taxpayers deceptive and outrageous fees and 
cheating them out of their refunds. The company also helped some 
customers prepare fraudulent returns that claimed bogus deductions and 
cheated the public of needed tax revenue. Fortunately, the Department 
of Justice has shut down the tax preparer company but there are many 
businesses just like them cheating taxpayers and the government alike.
  The IRS issued rules in 2011 regulating the tax return preparer 
industry by requiring them to register with the IRS and meet certain 
education and testing standards. However, a federal court held that the 
IRS did not have the authority under existing law to issue these 
regulations and they could not come into effect.
  That's why I introduced the Tax Return Preparer Accountability Act 
because it's important that anyone who assists in filing federal taxes 
is sufficiently trained and maintain a certain level of professional 
conduct.
  I hope that Congress will quickly act on this bill to ensure that 
these dishonest business practices cannot continue, and protect the 
pocketbooks of middle-class families.

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