HB 585 - This act modifies provisions relating to consumer protections for the preparation of financial documents.
TAXPAYER PROTECTION ACT
This act establishes the "Taxpayer Protection Act".
For all tax years beginning on or after January 1, 2020, this act requires paid tax return preparers, as defined in the act, to sign any income tax return or claim for refund prepared by such paid tax return preparer and to provide such preparer's Internal Revenue Service preparer tax identification number.
Each failure to sign any income tax return or claim for refund, or to provide a preparer tax identification number, shall result in a fine of fifty dollars, not to exceed $25,000 per calendar year.
The Director of Revenue may file suit to enjoin a paid tax return preparer from engaging in certain actions, as described in the act. (Section 143.980)
This provision identical to SCS/SB 118 (2019) and to a provision contained in HCS/SB 87 (2019), SCS/SB 219 (2019), and HB 943 (2019).
STATE BOARD OF ACCOUNTANCY
This act also allows the Missouri State Board of Accountancy to obtain information regarding peer review from any approved American Institute for Certified Public Accountants peer review program.
The Board may obtain the name and address of the public accounting firm, the firm's dates of enrollment in the program, the date of acceptance and the period covered by the firm's most recently accepted peer review, and if applicable, whether the firm's enrollment in the program has been dropped or terminated. (Section 326.289)
This provision is identical to a provision contained in SCS/SB 219 (2019), HB 943 (2019), and SCS/HB 705 (2019).