Tax preparers required to take exam

More than 16,000 Tennessee tax preparers have now registered with Internal Revenue Service, as required by recent regulations, but about 7,000 of them must take an IRS competency examination by Dec. 31, 2013, or they will not be able to prepare tax returns for compensation.

So far, 54 tax preparers in Tennessee have passed the competency exam and, as a result, have been given the new credential of Registered Tax Return Preparer.

Enrolled agents, CPAs and attorneys are not required to take the exam because they already have testing requirements.

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