Professional tax return preparers must renew their PTINs to prepare returns in 2013, the IRS said in a reminder to preparers. Current PTINs expire December 31.
Anyone who prepares or helps prepare all or substantially all of a federal tax return, claim for refund or other federal forms for compensation must have a valid PTIN. All Enrolled Agents also must have a PTIN. There are currently 739,000 tax preparers with 2012 PTINs, and some 350,000 of them are subject to the new testing and CE requirements.
The service added that preparers who still need to take the competency test are encouraged to schedule an appointment while they are renewing their PTIN. More than 48,000 preparers have earned RTRP certificates, leaving over 300,000 who have not. The IRS noted that there has been an increase in the number of people taking the EA exam.
The RTRP test can be scheduled up to six months in advance, depending on the location. (Preparers should select “Next Steps and Additional Requirements” within their online PTIN account to schedule the RTRP test. The other option is the Special Enrollment Exam, a three-part test to become an EA.
The IRS said those renewing PTINs can complete the process in about 15 minutes. The renewal fee is $63. Preparers obtaining a first-time PTIN must first create an online PTIN account and then follow directions to obtain a PTIN. Their fee is $64.25.
Preparers who do not prepare any Form 1040 returns or who are supervised in certain firms must self-certify that they are exempt from the testing requirement. (A supervised preparer is one who is employed by a law or accounting firm at least 80 percent owned by attorneys, CPAs or EAs who is supervised by an attorney, CPA or EA who reviews and signs the returns they prepare.) RTRPs and RTRP candidates also must self-certify that they have completed or will complete the required 15 hours of continuing education courses.
Preparers who are not EAs, CPA or attorneys must pass the RTRP test or the Special Enrollment Exam by December 31 of next year.
1 Comment
I went online 2 days ago to renew my PTIN. Went through all the proper steps until the end came and a screen told me that my application was incomplete: I needed to take the exam. Although the wording stated that I had to take the exam prior to 12/31/13 it still would low me to go no further in the renewal process. It wouldn't proceed to the page where I could pay, thus my application would not be excepted. I went through the process 3 more time and hit the same wall: a page with a link for you to use to set your exam time. I called the PTIN Help number and sat on hold for around 45 minutes, all the while working the system. TA-DA! I somehow discovered a back door that would take me to the pay page and I spit that money right out to them. Soon a voice came on the line and I asked what was up with their system. I was promptly asked if I had completed and passed my exam. No, I said, I don't have to until 12/31/13, adding that I had completed my CPE's for the year. Oh, no, sir, he said, you must take the competency test EVERY year to renew your PTIN! I think you are mistaken, young man: we must complete our CPE's annually but passage of the exam is a 1 shot deal..... Well the boy argued until I made him go to his supervisor after which he returned to the line and apologized for having his information wrong. Conclusion: The Service, by design, has put up a web sight to force you into taking your test a year before required and hired personal who either have no knowledge of the new law or are using subterfuge towards the same end. Beware.
Posted by: DrHoodoo | December 21, 2012 2:14 PM
Report this Comment
Add Your Comments...
Already Registered?
If you have already registered to Accounting Today, please use the form below to login. When completed you will immeditely be directed to post a comment.
Not Registered?
You must be registered to post a comment.