Bill > S2810

This bill amends the "Tax Preparers Act of 2013" to establish penalties for tax preparers who engage in misconduct, including defining a "ghost preparer" as someone who prepares tax returns without proper identification or compliance with IRS requirements and benefits from it. It clarifies that tax return preparers must include their Preparer Tax Identification Number (PTIN), which is a unique number issued by the IRS, on all returns they prepare. The bill introduces new penalties for tax preparers who willfully mislead or commit fraud against taxpayers, circumvent tax laws, or violate the act's provisions, with fines of up to $1,000 per return. It also allows the tax administrator to suspend or revoke a preparer's privilege to file returns and mandates the publication of a list of preparers whose privileges have been suspended or revoked, with additional penalties for violations occurring after such actions. This legislation takes effect immediately upon passage.

Budget and Finance

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