I was looking at the President's 2012 budget submission, and one thing that caught my eye was a proposed revenue enhancer for penalties from paid tax preparers for failure to do due dilligence for EITC claims. The budget estimates $13 million from this in 2012 going up to $37 million in the out-years. That sounds awfully optimistic on the administration's part. I don't know how the penalty would be computed, but could it really amount to that much?
scott s. ..