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Dave CPA, Accountant
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What are the requirements for starting a tax preparation business

Resolved Question:

What are the requirements for starting a tax preparation business in Maryland?
Submitted: 2 years ago.
Category: Tax
Expert:  Dave CPA replied 2 years ago.
Hello,

Welcome to Just Answer,

Maryland SB 817 entitled "Maryland Individual Tax Preparers Act was signed intor law in May, 2008. The following information is provided on the Maryland Division of Occupational Licensing Website:

During the 2008 Session of the Maryland General Assembly, Senate Bill 817 was enacted. This legislation would create a new licensing and regulatory program covering Individual Tax Preparers. SB 817 has been signed by the Governor.

Highlights include:

- Appointment of an eight person Board of Income Tax Preparers.
- Requires that all person offering individual tax preparation services must become licensed by June 1, 2010.
- Provides for licensure without examination for someone with fifteen (15) consecutive years of tax preparation experience.
- Provides for licensure by examination. The exam must be Board approved and must be no less stringent than the "individuals" section of the special enrollment examination for enrolled agents.
-A license may be renewed every two years subject to the completion of 16 hours of continuing education.
-Provides that the following individuals are exempted from the licensing requirement:

1. A CPA licensed in Maryland or any other state.
2. An individual admitted to practice law in Maryland or any other state.
3. An individual employed by local, state or the federal government but only in performance of official duties.
4. An individual enrolled to practice before the IRS who is governed under Circular 230.
5. An employee or assistant to a licensed individual tax preparer or exempted individual, in performance of official duties on their behalf.

Their website is below if you need more information.

http://www.dllr.state.md.us/license/taxprep/

Other than that you would just need a regular state business license and you can start.

Please let me know if you have any questions before you rate my answer. A positive rating is what I strive for.
Dave CPA, Accountant
Category: Tax
Satisfied Customers: 840
Experience: Vast knowledge within the accounting/tax industry
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