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Does Giving Tax Advice Make You a 'Preparer'?

Signed by President Bush on May 25, The Small Business and Work Opportunity Tax Act of 2007 ('Small Business Act') includes new preparer penalty provisions that range up to 50% of the fee for preparing the tax return. Lawyers who give tax advice need to know that this legislation had a 'surprise' in it regarding whom the IRS considers a tax return preparer.

6 minute read August 30, 2007 at 10:40 AM
By
Richard H. Stieglitz and Michael G. Freel
Does Giving Tax Advice Make You a 'Preparer'?

Signed by President Bush on May 25, The Small Business and Work Opportunity Tax Act of 2007 ('Small Business Act') includes new preparer penalty provisions that range up to 50% of the fee for preparing the tax return.

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