New York Tax Preparers: What You Need to Know
The state's tax department has updated its guide for tax preparers, which is essential for anyone assisting with income tax returns.
Key Updates
Mandatory Registration Some tax preparers must register with the state. This is not optional.
Electronic Filing All tax returns must be filed electronically. Paper returns are no longer accepted.
Consumer Bill of Rights Tax preparers must provide clients with a copy of their rights, known as the consumer bill of rights.
Refund Anticipation Loans and Checks New rules apply to refund anticipation loans and checks. Preparers must comply to avoid penalties.
Display Requirements Preparers must display their registration number and other important details at their preparation sites.
Tax Preparer Registration Program
Requirements The program has specific requirements that preparers must meet.
Continuing Education Preparers must complete continuing education courses to stay updated on tax laws and rules.
Privacy and Confidentiality
Client Information Preparers must follow privacy and confidentiality rules to protect clients' personal and financial information.
Signature Requirements Specific signature requirements apply for both paper and electronic returns.
Penalties for Noncompliance
Failure to follow these rules can result in penalties. Tax preparers must understand and adhere to all guidelines to avoid issues with the state's tax department.
