Tax preparers fined for violating city regulations

February 5, 2013 7:02:30 AM PST
The city of Chicago is cracking down on tax preparers.

Of 93 businesses that were investigated recently, Mayor Rahm Emanuel's office says only three were in compliance with city regulations.

"There is no place in Chicago for businesses to take advantage of residents, and I absolutely will not stand for it," Mayor Emanuel was quoted in a news release. "These businesses are scamming honest Chicagoans under the guise of helping them, which is completely unacceptable and will not be tolerated."

The noncompliant tax preparers face fines of up to more than $200,000.