New York Tax and Finance Department Updates Publication 58 for Income Tax Preparers

The New York Department of Taxation and Finance has issued updated Publication 58, providing information for income tax return preparers operating in the state. The publication outlines numerous requirements, including registration for certain preparers, mandatory e-filing of returns, distribution of a consumer bill of rights, regulations around refund anticipation loans and checks, posting obligations at preparation sites, and various penalties for noncompliance with the rules. The publication details the Tax Preparer Registration Program, continuing education requirements, signature requirements for paper and electronic returns, and privacy and confidentiality provisions that tax preparers must follow when handling client information. [N.Y. Dep’t of ...