AICPA supports concept of regulating tax preparers, refund anticipation loan providers.

• Position: American institute of certified public accountants - Brief Article

In a letter to Congress, the AICPA showed support for the concept of regulating all tax return preparers and refund anticipation loan providers, but also raised some public policy and drafting concerns about the registration proposal which passed the Senate in May.

Noting that the registration proposal was a partial response to the high error rates associated with Earned Income Tax Credit claims and consumer protection concerns with refund anticipation loans, the AICPA instead recommended enacting legislation that...