TAX PREPARER BOND

OBLIGEE: California Tax Education Council

BOND AMOUNT: $5,000

BENEFICIARY OF BOND: An individual who uses the services of a tax preparer; will be guaranteed the tax preparer will be compliant with the state laws.

WHY BOND IS REQUIRED: In 1996 the California Legislature passed the Tax Preparers Act, Business and Professions Code 22250-22259, which regulates tax preparers and requires all registered tax preparers to maintain the $5,000 Tax Preparer Bond.

WHO IS REQUIRED TO SECURE THIS BOND: A tax preparer registered with the California Tax Education Council and 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.”

BOND CIVIL CODE: Tax Preparers Act, Business and Professions Code 22250-22259

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