Nothing but the best and brightest! The IRS has finally given details on the registered tax preparer test, and I was correct! It is designed to test minimum standards only. The examination will be open book and three hours long. Test takers will be given copies of Publication 17, Form 1040 and its instructions. They’ll get two to three hours to answer 120 or so true/false and multiple-choice questions.
This will surely level the playing field and ensures knowledge. I am required to get 120 hours of CPE, every three year period. I usually end up with over 200 hours each cycle and about 30 hours of tax classes every year. This is another government joke, I am certain there are thousands that will not comply with their one copy of Turbotax.