Caplin & Drysdale's Christopher S. Rizek and Rachel L. Partain are quoted extensively by LAW360 concerning the ability of the Internal Revenue Service to regulate otherwise unlicensed tax-return preparers absent legislation. The Senate Finance Committee recently introduced a bill which would extend the IRS's oversight to include the preparation of tax returns and refund claims. For the complete article, please visit LAW360's website (subscription required).
Excerpt taken from the article.
Christopher S. Rizek of Caplin & Drysdale Chtd. said that "without legislation, the service's power to regulate practitioners is kind of slipping away" and that without congressional action, "I think you will see continued fights and erosion of OPR's authority."
Given the current environment in the GOP-led Congress, however, in which Republicans are still fuming over the controversies that have engulfed the IRS in the last couple of years, a bill expanding the IRS' authority could be a tough sell, according to Caplin & Drysdale of counsel Rachel L. Partain.