In a Notice Tuesday, the IRS said it will continue to offer provisional Preparer Tax Identification Numbers (PTINs) to those who are not attorneys, accountants, or enrolled agents through April 18, 2012. This is because background check and proficiency testing has not begun. Provisional PTINs are to be renewed annually. Also, a 15-hour continuing education requirement is to be imposed in 2012. Some tax return preparers may also have to be fingerprinted. Compliance with these measures should not, at this time, apply to attorneys, certified public accountants, enrolled agents, enrolled retirement plan agent and enrolled actuaries. News Release IR-2011-96 summarizes the various aspects of the notice.
The IRS also issued proposed regulations under the initiative to register tax return preparers. The proposed regulations would charge user fees for being fingerprinted ($33) and for taking the competency exam to be a return preparer ($27). These fees are in addition to "any reasonable fee" that a third-party vendor charges. Public comments are due on the proposed regulations October 27, 2011.
See Notice 2011-80; "User Fees Relating to the Registered Tax Return Preparer Competency Examination and Fingerprinting . . . " (Proposed Regulations REG-116284-11); and "IRS Issues Guidance to Further Implement Return Preparer Oversight," IR-2011-96 (all Sept. 21, 2011).
Here is the IRS overview of the requirements so far.
Posted by David Perry, Managing Associate Editor, Wealth Strategies Journal.
The IRS also issued proposed regulations under the initiative to register tax return preparers. The proposed regulations would charge user fees for being fingerprinted ($33) and for taking the competency exam to be a return preparer ($27). These fees are in addition to "any reasonable fee" that a third-party vendor charges. Public comments are due on the proposed regulations October 27, 2011.
See Notice 2011-80; "User Fees Relating to the Registered Tax Return Preparer Competency Examination and Fingerprinting . . . " (Proposed Regulations REG-116284-11); and "IRS Issues Guidance to Further Implement Return Preparer Oversight," IR-2011-96 (all Sept. 21, 2011).
Here is the IRS overview of the requirements so far.
Posted by David Perry, Managing Associate Editor, Wealth Strategies Journal.
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