Tuesday, March 28, 2006

CBS falsely suggested new IRS proposal on selling tax info "improve[s] taxpayer protections"; in fact, selling would expand

On the CBS Evening News, Washington correspondent Bob Orr characterized a recent Internal Revenue Service (IRS) regulations proposal allowing tax return preparers to sell information from returns to third parties as spelling out a "loophole of sorts" that has "been around for more than 30 years." In fact, in permitting sales to third parties, the new proposal would allow tax preparers to do something they are not currently permitted to do; under current law, they can pass on such information only to affiliates. Read more

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