A bill to amend the Internal Revenue Code of 1954 to provide for the licensing of, and for certain other regulations with respect to, persons in the business of preparing tax returns.

Provides, under the Internal Revenue Code of 1954 for the licensing of, and regulating of, persons in the business of preparing tax returns. Provides for the requirement of a fee of not more than $50 for the issuance of the license under this Act.