… Is the power to destroy. So said Daniel Webster. Under the Constitution, that power belongs to Congress, not the IRS. The IRS was created to collect the taxes that Congress has levied.
However, the IRS in its arrogance has decided that it need not be limited by the power delegated to it as a tax collector. It has decided that it has the power to regulate who can help someone fill out a tax return. Congress has not passed any statute granting that authority, but the IRS has decided to license tax preparers any way.
The big tax preparation and accounting firms think that’s just fine. It will reduce competition by putting thousands of independent preparers out of business–destroying thousands of jobs.
Of course, some of the folks affected by these rules are taking the IRS to court. I hope they prevail, but a better solution would be to elect a government that will rein in this sort of regulatory abuse that has exploded for the past three years.
Is it November yet?