In 2009 the IRS launched the Registered Tax Return Preparer program which was based on an obscure 1884 law regulating representatives of civil war soldiers looking for compensation for their dead horses. Everybody was happy with the RTRP — except the Preparers (and maybe the long-dead horses).

Key Takeaways:

[:23] How do you know you’re not paying too much in taxes when you do them yourself? And if you decide to call a pro, who do you call?

[1:40] In 2009 the IRS launched the Registered Tax Return Preparer Program which required Preparers to do three things.

[2:15] The IRS based their authority to start the RTRP based on an obscure 1884 law

regulating representatives of civil war soldiers looking for compensation for their dead horses.

[2:28] Everybody was happy except the Preparers — so three of them sued.

[3:02] The IRS suspended the program but kept charging PTIN fees for the program so 1 year later, a different set of Preparers sued again!

[4:11] Tax Preparers do a perfectly good job of telling you how much you owe — but not about how you can pay less. So call Financial Gravity when you’re ready to save!

Mentioned in This Episode:

Financial Gravity
TurboTax