Bill > SB788

This bill amends California's tax preparer regulations by expanding exemptions from tax preparation registration requirements. Specifically, the bill modifies existing law to explicitly exempt individuals with current and valid licenses from the California Board of Accountancy, as well as firms (including their partners, shareholders, owners, and employees) that have such licenses or are authorized to practice public accountancy. The bill clarifies language around who can be exempt from tax preparer registration, making it more precise by replacing broader terms like "a person" with "an individual" and updating references to specific legal sections. The changes aim to provide clearer guidance about which professionals and firms are not required to register as tax preparers with the California Tax Education Council. These modifications will apply to tax returns prepared for taxable years beginning on or after January 1, 2025, giving businesses and professionals time to understand and implement the new provisions. The bill essentially streamlines and clarifies existing exemptions for licensed accounting professionals and firms, reducing potential administrative burdens while maintaining oversight of tax preparation services.

Budget and Finance, Business and Industry

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB788