tion services, a consumer agrees to pay a fee or in-
terest upon receipt of the consumer’s tax refund to 
a tax return preparer, lender, or other affiliated 
lender by— 
‘‘(A) requesting the Federal Government 
to deposit such tax refund, in whole or in part, 
directly into a depository account designated by 
either the consumer or the tax return preparer, 
lender, or other affiliated lender; or 
‘‘(B) directly paying the fee or interest to 
the tax return preparer, lender, or other affili-
ated lender.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (12 U.S.C. 5301 et seq.) is amended by 
inserting after the item related to section 1029A the fol-
lowing new item: 
‘‘Sec. 1029B. Regulation of refund anticipation payment arrangement.’’. 
(c) EXCLUSION FOR CERTAIN TAX PREPARERS.— 
(1) IN GENERAL.—Section 1027(d)(1) of such 
Act is amended by striking subparagraph (B). 
(2) 
CONFORMING
AMENDMENTS.—Section 
1027(d) of such Act is further amended— 
(A) in paragraph (1)— 
(i) in the heading, by striking ‘‘AND 
TAX PREPARERS’’; 
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(ii) by striking ‘‘authority over’’ and 
all that follows through ‘‘any person that’’ 
and inserting ‘‘authority over any person 
that’’; 
(iii) by redesignating clauses (i) and 
(ii) as subparagraphs (A) and (B), respec-
tively, and by moving such subparagraphs 
2 ems to the left; 
(iv) by redesignating subclauses (I) 
and (II) as clauses (i) and (ii), respec-
tively, and by moving such clauses 2 ems 
to the left; 
(v) by striking ‘‘tax, advisory’’ and in-
serting ‘‘tax (except as related to tax re-
turn 
preparers 
pursuant 
to 
section 
1029B), advisory’’; and 
(vi) in clause (ii) (as redesignated), by 
striking ‘‘; or’’ and inserting a period; and 
(B) in paragraph (2)— 
(i) in subparagraph (A)— 
(I) by striking ‘‘paragraph (1)(A) 
or (1)(B)’’ and inserting ‘‘such para-
graph’’; and 
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(II) 
by 
striking 
‘‘paragraph 
(1)(A)’’ each place it appears and in-
serting ‘‘paragraph (1)’’; 
(ii) in subparagraph (C)— 
(I) by striking ‘‘in paragraph 
(1)(A)’’ and inserting ‘‘in paragraph 
(1)’’; and 
(II) by striking ‘‘clause (i) or (ii) 
of paragraph (1)(A)’’ and inserting 
‘‘subparagraph (A) or (B) of para-
graph (1)’’; and 
(iii) in subparagraph (D), by striking 
‘‘paragraph (1)(A) or (1)(B)’’ and insert-
ing ‘‘such paragraph’’. 
SEC. 4. SPLIT REFUNDS MAY INCLUDE TAX RETURN PRE-
PARER. 
(a) IN GENERAL.—Section 6402 of the Internal Rev-
enue Code of 1986 is amended by adding at the end the 
following: 
‘‘(n) SPLIT REFUNDS.—An income tax refund re-
quested on a return of Federal income tax prepared by 
an income tax preparer may be split between the preparer 
and the taxpayer in accordance with the split requested 
by the taxpayer on the return, except that the amount des-
ignated for the preparer may not exceed the amount pre-
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scribed by the Secretary by regulation or other guidance. 
A split of an individual income tax return under this sub-
section shall not be treated as disreputable conduct merely 
because the taxpayer requested such split.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall apply with respect to returns for tax-
able years ending after the date of the enactment of this 
Act. 
SEC. 5. REGULATIONS. 
Regulations issued under section 7812 of the Internal 
Revenue Code of 1986, as added by section 2, and regula-
tions issued under section 1029B of the Consumer Finan-
cial Protection Act of 2010, as added by section 3, should 
be coordinated to the extent practicable. 
Æ 
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