Tax preparers: exemptions.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Overview
This bill amends California law to clarify exemptions for certain individuals and firms from the requirements of the Tax Preparation Act. Specifically, it expands exemptions to include licensed accountants and public accountants, as well as firms holding valid licenses from the California Board of Accountancy. These exemptions apply to tax returns prepared for taxable years beginning on or after January 1, 2025.
Key provisions
- Expands exemptions for licensed accountants (California Board of Accountancy) from tax preparer regulations.
- Includes firms holding valid licenses from the California Board of Accountancy as exempt.
- Adds exemptions for State Bar members.
- Includes trust companies and financial institutions regulated by state or federal government as exempt.
- Extends exemptions to employees of exempt individuals or firms, subject to specific conditions.
- Adds an exemption for individuals enrolled to practice before the Internal Revenue Service.
- Clarifies that ‘preparation of a tax return’ includes computer input of tax data.
- Specifies that exemptions apply to tax returns prepared for taxable years beginning on or after January 1, 2025.
Who is affected
- Licensed Accountants
- Public Accountants
- Tax Preparers
- California Board of Accountancy
- Taxpayers
Notable changes
Bill text
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Sponsors
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1 on record
Primary sponsor
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