The Rhode Island Division of
Taxation today proposed a regulation involving penalties that may be imposed on
paid tax preparers who fail to comply with due diligence requirements.
Regulation PIT 14-23 would help to implement a state
law enacted in June 2013 that established specific penalties -- civil and
criminal -- for paid preparers who prepare Rhode Island returns with the intent to
wrongfully evade or reduce a tax obligation. (See Rhode Island General Laws
Chapter 44-68.)
A public hearing on the
regulation is scheduled for 9:30 a.m. on Wednesday, September 17, 2014, at the
Rhode Island Division of Taxation, One Capitol Hill, Providence , R.I.
