IN SB0354

Professional preparers filing more than 50 returns in calendar year 2012 must file returns electronically in the immediately following calendar year.

Professional preparers filing more than 10 returns in any calendar year after 2012 must file returns electronically in the immediately following calendar year.

Professional preparers may be exempted from electronic filing requirements if the taxpayer requests in writing that returns not be filed electronically.

Professional preparers who fail to comply with electronic filing requirements are subject to a penalty of $50 per return, with a maximum annual penalty of $25,000.

The bill takes effect July 1, 2011.