The IRS has added an additional hoop for tax preparer to jump through this year. They insist in wanting to know if self-employeds, farmers, landlords, partnerships, regular corporations and S firms who made payments that must be reported on 1099s are reported.
If so, we must also check a box stating whether they filed or will file all 1099s. We as preparers of their returns fear that we will have to act as (unpaid) IRS agents to be our clients have followed the information reporting rules.
Otherwise the Service will hit us with a preparer penalty if it turns out that clients messed up the 1099 filing rules.
I just love all of the responsibility and potential liability for no rewards…
How about a govt pension and benefits?