The cost of preparing your taxes could go up this year thanks to new IRS regulations.
Nearly 350,000 independent tax preparers and millions of American taxpayers will be affected by the agency's new unlawful licensing scheme. In addition to paying a yearly registration fee, tax preparers are now required to pass a competency exam, complete an unending string of continuing education courses, and could be subject to mandatory fingerprinting.
Enforcement of these new requirements is expected to cost upward of $354 million.
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