Bill > SB788

This bill amends the existing law regarding tax preparer regulations by expanding exemptions for certain professionals from tax preparer registration requirements. Specifically, the bill will exempt individuals with current and valid licenses from the California Board of Accountancy, individuals authorized to practice public accountancy under specified legal provisions, and firms (including their partners, shareholders, owners, and employees) that have a current and valid license from the Board of Accountancy. These exemptions mean that these professionals will not need to register with the California Tax Education Council or provide certain written disclosures typically required for tax preparation services. The bill clarifies that employees of exempt entities can prepare tax returns, provided the returns are signed by a qualified exempt professional. The changes will apply to tax returns prepared for taxable years beginning on or after January 1, 2025, which gives professionals and regulatory bodies time to adjust to the new requirements. By broadening the exemptions, the bill aims to reduce administrative burdens on qualified accounting professionals while maintaining oversight of tax preparation services.

Budget and Finance, Business and Industry

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