New York Tax Preparers: What You Need to Know

New rules are in place for those who help people file their taxes in New York. The state's tax department has updated its guide for tax preparers. This guide is a must-read for anyone who helps others with their income tax returns. First, some tax preparers must register with the state. This is not optional. Also, all tax returns must be filed electronically. No paper returns will be accepted. This is a big change for those used to filing on paper. Tax preparers must also give their clients a copy of their rights. This is called a consumer bill of rights. It's important for clients to know their rights when it comes to tax preparation. There are also new rules about refund anticipation loans and checks. Tax preparers must follow these rules to avoid penalties. They must also display certain information at their preparation sites. This includes their registration number and other important details.The guide also talks about the Tax Preparer Registration Program. This program has requirements that preparers must meet. They must also complete continuing education courses. This ensures they stay up-to-date on the latest tax laws and rules. When handling client information, tax preparers must follow privacy and confidentiality rules. This is to protect clients' personal and financial information. They must also follow specific signature requirements for both paper and electronic returns. Noncompliance with these rules can result in penalties. It's important for tax preparers to understand and follow all the rules outlined in the updated guide. This will help them avoid any issues with the state's tax department.