Over the past few months the IRS has been reminding paid preparers that they must renew or apply for their PTIN's by January 1, 2012. If you are a paid preparer now is the time to ensure you are in compliance with the IRS before you complete your first return.
New regulations for paid preparers are rolling out in phases:
Phase 1: PTINs for Everyone
First Time PTI...
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Nathan Wanamaker, Business Manager of TaxSlayer Pro, discusses one of TaxSlayer Pro's newest features.
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There was recently a notice on the IRS website letting preparers know that the PTIN e-services system would be offline until October 19th. Preparers will now notice that the site is live again and lists the steps and requirements for PTIN renewal. Keep in mind that ALL paid preparers must renew their PTIN before 1/1/12 in order to be eligible for the upcoming filing season. In ...
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Long held as one of the most controversial topics between IRS compliance sectors and the tax prep industry, the EITC checklist is facing the possibility of new requirements. In an effort to stem fraud and increase compliance, the IRS has proposed new regulations that would require tax prepares to file a due diligence checklist with any return claiming the Earned Income Tax Cred...
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