Taxpayer Protection and Preparer Proficiency Act of 2024

The Taxpayer Protection and Preparer Proficiency Act of 2024 establishes new standards for tax return preparers, requiring them to pass a basic exam, complete annual continuing education (limited to 15 hours), and undergo a background check to ensure competency and trustworthiness. It reinstates a program for registered tax return preparers and mandates that tax returns they prepare display a unique identifying number, with limited exceptions for preparers working under licensed professionals like attorneys or CPAs. The bill also grants the IRS authority to revoke a preparer's identifying number for incompetence or disreputability and requires a GAO study on improving information sharing between federal and state tax authorities regarding preparer standards.