With the new IRS Regulation of Tax Preparers here, a basic competency test and continuing education are now a requirement. Trendlists.com announced that The Income Tax School has been ranked as the #1 Income Tax Online Education Website in its list of Top 3 online tax education websites.

Richmond, VA (PRWEB) February 29, 2012

TrendLists.com cited the comments below in Ranking The Income Tax School at #1 in its list of Top 3 Trusted Income Tax Online Education Websites.

This is the best income tax online education website that people could find these days. People would find a number of tax courses here that would really help them a lot.

People who want more than just study income tax online could also choose to train their employees here or have a tax business of their own, lots of opportunities here.

Those who are interested could check out a lot of stuff in this income tax online school. People are properly guided here--how to start and other things that they need.

Charles E. McCabe, CEO of Richmond-based The Income Tax School, noted that new IRS Regulation of Tax Preparers became effective January 1, 2012 that will require all unenrolled preparers (those who are not CPAs, Enrolled Agents or attorneys) to complete 15 hours of Continuing Education (CE) annually from an IRS Approved CE Provider such as The Income Tax School. In addition, currently registered preparers must pass a new IRS Preparer Competency Exam by 2013. After April 2012, all new preparers must pass the exam before they can be issued a Preparer Tax Identification Number (PTIN) by the IRS to begin practicing as tax preparers.

According to the IRS, higher standards will boost service and protections for taxpayers, increase confidence in the system and yield greater compliance with tax laws. Previously, preparers have been regulated only in California and Oregon. McCabe commented: The new IRS regulations will also provide independent tax professionals who meet the new standards with more credibility and position them as an affordable, professional alternative to large accounting firms.

The Income Tax School offers an affordable Tax Pro Career Package which includes the Comprehensive Income Tax Course to prepare people with no prior tax or accounting experience or education for new careers as tax preparers. Students learn to prepare all Form 1040 tax returns, including self-employment. The Comprehensive Course covers every subject on the IRS Competency Exam and includes a free IRS Exam review. The package also include a free guide to comply with IRS preparer regulations and a 50% discount on the graduates first year seminar package to meet the IRS Continuing Education requirement. A Tax Pro Business Package is also offered with practice management guides to get started as a home-based tax business owner.

After completing the Comprehensive Income Tax Course and gaining experience as tax preparers, graduates may continue their education by taking Advanced and/or Small Business Tax Courses. The Income Tax School offers a certificate program including the Comprehensive and four advanced courses leading to the designation of Chartered Tax Professional (CTP). A graduate of the CTP program is encouraged to then become an IRS Enrolled Agent (EA), the most significant credential a tax professional can attain. The CTP program covers all topics on the IRS EA Exam and CTP graduates are offered a high-quality EA Exam Review at a discount.

More here:
The Income Tax School Ranked #1 for Online Tax Education