IRS Commissioner Shulman announced the creation of a new office called the Return Preparer Office to handle issues related to the mechanics of registration, continuing education, and testing requirements for tax return preparers. This office is in addition to the Office of Professional Responsibility, which investigates cases of improper conduct and ethical violations.
Note: Continuing education requirements were to have begun on January 1, 2011. However, the IRS has announced that it will waive the requirement for newly registered tax return preparers to take annual continuing education courses in 2011.
Source: Cmr. Shulman Announcement
A sale of property that allows for tax deferment if at least one payment is received after the end of the tax year in which the sale occurs. The installment method does not apply to year-end sales of publicly traded securities. Dealers may not use the installment method. Investors with very large installment balances could face a special tax.