Wednesday, November 10, 2010

New PTIN Requirements Affects All Tax Preparers

The IRS is requiring that all tax preparers, even those who do not put their names to a return, to apply for a PTIN before the end of the year. Along with this, all tax preparers will have to maintain a number of hours annually of continuing education, although the IRS hasn't decided the exact amount of hours required or who exactly will have to abide by this regulation.

Those of us that already have a PTIN must reapply for a new one by the end of the year. Having to reapply is already a hassle enough but it will now also cost us, $64.25 to be exact.

You can apply or reapply here: http://www.irs.gov/taxpros/article/0,,id=210909,00.html?portlet=7

I will update this post as I gather more information.

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