States With Special Laws Regarding Bank Products Fees

States With Special Laws Regarding Bank Products Fees

Background: Arkansas (AR), Connecticut (CT), Illinois (IL), Maine (ME), Maryland (MD), and New York (NY) require tax preparers to charge the same fees to all clients irrespective of whether or not a client uses a bank product to facilitate payment of their refund. More details on the regulations are provided below.

Legislation in each of these states also imposes other obligations on tax preparers, including the requirement to provide specific disclosures and notices to taxpayer clients. Tax preparers doing business in one or more of these states should familiarize themselves with the requirements of the law of those states. For more information on these requirements, see the State Requirements for Preparers which offer Tax Refund Products on the Tax Resource Center.

Click on the state to view the specific legislation.

Arkansas (A.C.A. § 4-116-107)

Connecticut (CT Special Notice 2017(8))

Illinois (815 ILCS 177/25(a))

Maine (Me. Rev. Stat. Ann. tit. 9-A, § 10-310(2)(A))

Maryland (MD Code, Commercial Law, § 14-3806)

New York (N.Y. Tax Law § 32(b)(2)(f)(1)(C))

CrossLink Professional Tax Software

CrossLink Professional Tax Software

CrossLink is the industry’s best professional tax software solution for retail tax businesses. Built based on the needs of busy tax offices and mobile tax preparers that specialize in providing their taxpayer clients with fast and accurate tax returns, CrossLink has been a trusted software solution since 1989. CrossLink’s in-depth tax calculations, advanced technological features, and paperless solutions allow you to prepare the most complicated tax returns with confidence and ease while providing your customers an unparalleled experience.

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