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Tax PreparerThis application can now be taken and the bond paid for over the phone!\r\n \r\nA $5,000 tax preparer bond is required by the State of California Tax Education Council (CTEC) to protect the general public from negligence on the part of the tax preparer. This is an instant issue bond through Surety1, for $100.00 for a 4 year bond term. This bond does not require a credit check for approval, just a completed application! \r\n \r\n \r\nAdditional Information\r\n\r\nIn 1996 the California Legislature passed the Tax Preparers Act, Business and Professions Code 22250-22259, which regulates tax preparers. Those sections of the statute pertaining to tax preparer ethics, professional conduct, conduct regarding bonding and penalties for breaking the law are listed below.\r\n\r\nA tax preparer is defined as \"a person who, for a fee, assists with or prepares tax returns for another person or who assumes final responsibility for completed work on a return on which preliminary work has been done by another person, or who holds himself or herself out as offering those services.\"\r\n\r\nA tax return is defined as \"a return, declaration, statement, refund claim, or other document required to be made or filed in connection with state or federal income taxes or state bank and corporation franchise taxes.\"\r\n\r\nWhen a person prepares a tax return, for a fee, without the appropriate lawful designation, he or she could be cited and fined up to $1,000 for each illegally prepared tax return. According to California Business and Professions Code 22253.5, The Franchise Tax Board may notify the California Tax Education Council when it identifies an individual who has violated the law. The California Tax Education Council shall then notify the Attorney General, a district attorney, or a city attorney. Those entities may do any of the following: (1) Cite individuals preparing tax returns in violation of this chapter; (2) Levy a fine up to one thousand dollars ($1,000) per violation; and, (3) Issue a cease and desist order, which shall remain in effect until the individual has come into compliance with the provisions of this chapter.\r\n\r\nA bond in the amount of $5,000 is required by the statute. The bond guarantees that the tax preparer will be in compliance with the law and that any fines or fees levied will be paid. |