Spidell is reporting that California’s Franchise Tax Board (FTB) has sent notices to 1,400 tax preparers who are not registered, and threatened each with a $2,500 fine. Only one problem: EAs, CPAs, and attorneys aren’t required to be registered (all hold other professional licenses). The FTB has lists of CPAs & attorneys (they must register with other state agencies) but has no list of EAs, so many EAs likely got the notices.
Any EA “lucky” enough to get one of these notices should reply back to the FTB with their license information and the FTB shouldn’t continue with the fine.
And let me end this with a plug for Spidell. Spidell has excellent continuing education offerings, and provides a lot of quality materials.
Tags: FTB