The National Society of Accountants is protesting an obscure new tax-reporting standard that it complains flew "under the radar" when it was stealthily inserted into an unrelated piece of Congressional legislation.
The law in question is the U.S. Troop Readiness, Veteran's Care, Katrina Recovery and Iraq Accountability Appropriations Act of 2007. A provision in the act revises tax-reporting standards and could put tax preparers at odds with their clients, who would not be held to the same standards.
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