According to the National Independent Tax Preparers Associations Tax Professionals in Alabama and other states are highly regulated by over ten Federal Regulatory Oversight Committees which are listed below.
There are more than eleven Federal Acts and IRS Rules currently governing the Tax Preparer Industry. When other industries such as the Cosmetology Industry were Regulated in Alabama they did not have Ten (10) or more Federal Laws, Rules and Regulations already providing oversight.
Truth in Lending Act
Equal Credit Opportunity Act,
Fair Credit Reporting Act
Federal Trade Commission Act
Fair Debt Collection Practices
Electronic Funds Transfer Act
Gramm-Leach-Bliley Act
National Bank Act
USA Patriot Act
John Warner National Defense Appropriations Act of 2007
Internal Revenue Code of 2008, 2009.