The New York State Department of Taxation and Finance today announced that it has issued more than $453,000 in fines to noncompliant tax professionals. To avoid thousands of dollars in possible penalties and revocation of their authorization to file tax returns in New York State, preparers must:
- register with New York State and pay an annual fee;
- file electronically;
- sign all returns they prepare;
- provide a copy of the return to the taxpayer;
- ensure all information submitted is accurate and truthful; and
- meet continuing education requirements each year.
“Tax professionals, with access to the sensitive personal information of clients, must be held to a high standard,” said Acting Commissioner Nonie Manion. “While most are honest professionals intent on delivering exceptional services, the relatively few unreliable or unethical practitioners can tarnish the industry and cause serious problems for their clients.”