Are Tax Preparers Considered MSBs?

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Question:

We bank an income tax preparer. He files returns for his customers, issues refunds using cashier's checks from another bank payable to his clients. He then cashes the checks for his clients and deposits them into our bank. Are these tax preparers considered MSBs?

Answer:

Refer to Question #3 in this FinCEN Ruling.

First published on BankersOnline.com 4/14/08