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The New York State Department of Taxation wants all tax returns filed electronically this year. In years past, they have assessed penalties to Paid Income Tax Preparers as an “incentive” to file returns they prepare electronically. This year, they have gone one step further. New York is now assessing penalties directly to the tax payer as well as the tax preparer:
2 minutes read
The IRS has confirmed that the proposed New Requirements for Federal Tax Return Preparers will begin by the end of this year and will be enforced for the coming tax season in 2011. Tax Return Preparers will be required to register with the IRS by obtaining a Preparer Tax Identification Number (PTIN) which is unique to each Tax Preparer and will allow the IRS to track how many returns and which returns each individual tax preparer prepares each year. Return preparers will be charged an...