>Smart Tax was recently featured in a great article in Accounting Today entitled, “Tax Registration Regime Takes Shape.” The article delves into the recent laws the IRS has implemented and how this will affect the tax preparation industry as a whole. Some of these new regulations on the industry include continuing education, more testing, identification numbers and fees. Many industry experts discuss the pros and cons of the new laws and how to prepare for tax season 2011. Nick Rizzi offers his opinion on how the new regulations are actually a good thing for the industry as a whole and how Smart Tax is already prepared for the new changes. By continuing to adapt to the economy and new government regulations, Smart Tax is able to support the franchisees in its system and make a smoother transition for independent preparers looking to partner with an established franchise. See Nick Rizzi’s comments on the new laws below and the article can be viewed in its entirety by clicking here.
Tax registration regime takes shape
The IRS moves rapidly to clarify the requirements, fees, CPE rules, and expectations
By Roger Russell
For Nick Rizzi, chief executive of tax preparation franchisor Smart Tax, the new process is a good thing. “In the areas in which we operate, you have one office that follows all the rules, and we try to be that guy,” he said. “Then you have four or five people that do returns in the back of a travel agency or money transfer store. It’s usually a 19-year-old girl with a laptop and a copy of some software. So we’re all for the new rules because we’ve been following IRS standards all along.”