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Watchdog: Follow the Money

40 NY tax preparers never filed personal returns

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Watchdog,Taxes,New York,Follow the Money

ALBANY, N.Y. (AP) — New York state has suspended the licenses of 40 tax preparers who state authorities say never filed their own returns in 2011 and 2012.

Gov. Andrew Cuomo says Wednesday that the disciplinary actions are part of the state's effort to regulate the tax preparation industry. Cuomo's office says more than 7 million New York residents use tax preparers.

New York is one of only four states that regulates the tax preparation business. New rules announced this year require preparers to pass a competency examination, hold a high-school diploma and participate in annual continuing education programs. In addition, any preparer who fails to file their own personal return can face a license suspension.

The suspended tax preparers come from around the state, with more than half from New York City.

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