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Senate Opens Hearings On Predatory Tax Preparers06:51Download

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Today the Senate Committee on Finance began hearings on predatory tax preparers, who gouge customers for a large percentage of their refunds or commit outright tax fraud.

Many people are surprised to learn that anyone — not just accountants — can advertise and provide tax preparation services.

The industry is lightly regulated. The IRS tried to reign in the problem in 2009 with some regulations on small tax preparers, but regulations were overturned through lawsuits.

Washington Post financial reporter Jia Lynn Yang joins Here & Now's Robin Young with details.

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This segment aired on April 8, 2014.

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