Texas preparers

[gman]

Has anyone recieved a notice on registering with the OCCC by Jan 1., if so, have you registered online.

Anyone familiar with the requirement listed below?

Pursuant to HB 1344, any facilitator of Tax Refund Anticipation Loans in Texas must register with the Office of Consumer Credit Commissioner (OCCC) by January 1, 2008.

[Donald Rihn, EA]

Texas Preparer

I received one of those cards today. However, I do not now and do not plan to in the future to offer RAL's.

Therefore, I have no plans on registering.

[ldcarls]

I registered today. No problem. I offer RAL's but do very few. Use bank products to take fees from refund check.

Was not notified by email, mail, news, etc. Found out about requirement on another forum.

[gman]

registering.

Is there a charge for registering?

[DaveinTexas]

$50 annual fee

Is there a charge for registering?

per preparation location. How ridiculous. I knew that Rick Perry was a snake, but this is incredible.

I sent an email to his office asking where the money goes besides paying for "the cost to administer this section" as stated in the bill.

Think about it; how many H&R Blocks, Jackson Hewitts, Liberty Taxes are there in Texas? Not to mention every tax preparation office that is privately owned that "facilitates" any RALs times $50 times each location!!??!?!!. Good grief! This is another way that Perry is bleeding us dry. Couple this with the new margin tax; I say we revolt.

I love the fact that this new bill is in the name of restoring the welfare of our children---this sickens me.

A short answer to your question is $50 annually per tax preparation location.

Back to my cave...

[taxxcpa]

$ 50 fee

It's not as high as the CPA license fee.

Someone needs to regulate or oversee the RAL business. Other states will probably begin charging a similar fee.