In the last several years, at least within Internet circles, everyone has been talking about the cloud. Ask ten different people and you’ll get ten different answers, but the truth is, no one really knows what or where the cloud is. That’s okay. Lack of concrete definitions and clarity never stopped government from taxing something or in this case nothing. As best can be explained, the cloud is an Internet-based system of data transfer and storage. Information contained within the cloud isn’t in anyone’s computer, but is held somewhere out there in cyberspace. Because there is no material aspect…
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While CPAs and tax attorneys must currently meet professional standards for tax preparation and other services, a recent decision by the U.S. Court of Appeals for the District of Columbia has ruled that the IRS has no authority to force continuing education or similar standards on tax preparers. The case stems from a 2011 IRS proposal of a system that would have established tax preparer registration and required all those who were paid for their services to pursue continuing education and submit to competency testing. The reason for federal oversight provided by the IRS included the claim that too many…