States With Special Laws Regarding Bank Products Fees
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))

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