Daniel HonanFounder, Profitable Painter CPA PLLC · I help painting contractors increase profits & cash flow while reducing taxes♦ Bookkeeping ♦ Tax

Painting Business Owners: Know Your Legal Rights when using a Tax Preparer or Tax Planner.

Name: Painting Business Owners: Know Your Legal Rights when using a Tax Preparer or Tax Planner.
Uploaded: 2023-09-18T15:01:16+00:00
Duration: 10 s
Channel: Daniel Honan
Description: This content was created by balanced-griffin. This content was uploaded by balanced-griffin. This is a YouTube video titled "Painting Business Owners…

18 Sept 2023 · 0 min

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This content was created by balanced-griffin. This content was uploaded by balanced-griffin. This is a YouTube video titled "Painting Business Owners: Know Your Legal Rights when using a Tax Preparer or Tax Planner" (created 2023-09-18). The excerpt is a short dialog between two speakers discussing legal limits on tax preparers — specifically that tax return information cannot be used to market or offer other services without the taxpayer's explicit permission/signature, citing IRC section 7216. The content appears aimed at informing painting business owners about their rights when working with tax preparers or planners.

These things were not being disclosed. This was not part of those terms and conditions, that page that shows up there that nobody reads. We just hit accept. Well, even if you had read it, this wouldn't have been in there because this was being excluded, unfortunately. Right.
And don't you also have to use taxpayer information? You have to get a signature from the taxpayer specifically that you can use that information for offering them other services, right?
Yeah. The IRS has a disclosure. It's in the code, 7216, I believe, where you can't legally use the information you glean from a tax return to offer somebody services without their permission. So, you know, for example, I do a lot of tax planning. If I want to look at your tax return to see if you would be a good fit for a 401(k) or maybe a whole life insurance policy or something like that, I can't even make those suggestions unless you give me permission to do so. By default, the only thing a tax preparer should be able to do with your information is prepare your tax return.