Hawaii Governor Signs Law Requiring Valid Identification Number for Tax Return Preparers

The Hawaii Governor June 25 signed a law relating to tax return preparers for corporate income, individual income, property, sales and use, excise, trust income, and estate tax purposes. The law includes measures: 1) requiring each tax return preparer to have a valid preparer tax identification number issued by the Internal Revenue Service and to furnish the preparer tax identification number on any return or claim for refund prepared for compensation if required by the Department of Taxation; 2) establishing penalties for failure to comply with preparer tax identification number requirements; and 3) specifying when the penalties may be waived. ...