The Jewish Federation of Greater Washington has posted an article about the IRS's release of proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). The IRS is working to finalize the proposed regulations, which are the first of a series of steps planned to increase oversight of federal tax return preparation. Currently, the proposals would establish a fee of $50 to cover technology costs associated with the new PTIN program. The proposed regulations would also create an additional, smaller fee to be charged by the third-party vendor chosen to operate the new online system.
Posted by Joshua Hock, Associate Editor, Wealth Strategies Journal
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