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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | June 28, 2013 04:05 PM |
|---|---|
| From: | Representative Duane D. Milne |
| To: | All House members |
| Subject: | Modernizing Filing Standards for Third Party Tax Preparers |
| I am introducing legislation on June 29 at noon to update the standard for the filing of tax returns by third-party preparers. This initiative amends the electronic filing requirement for third-party preparers. The legislation lowers from 50 to 11 as the threshold number of returns at which a third-party preparer must start to file returns electronically. Making this adjustment in the Commonwealth’s tax code will align state requirements with those of the federal level. Doing so will simplify the overall tax filing standards about which taxpayers and preparers must maintain awareness and with which they must comply. This approach also will ease some administrative burdens on the affected entities. Additionally, this measure will foster the availability of more data in electronic form, thereby permitting the Department of Revenue to expedite processing time and issuance of refunds. Another benefit is that expanding the base of electronic filings will lower error rates, thus reducing for taxpayers, preparers and the department alike the level of aggravation and administrative time and cost that results from errors on tax filings. In turn, all of the foregoing benefits will serve to streamline administrative processes for an array of parties in these transactions, enhance efficiencies for the Department of Revenue and save taxpayer and Commonwealth resources. As noted, this legislation will be introduced on Saturday, June 29 at noon. Thank you for taking a look at this request. |
Introduced as HB1604