New Online Registration System for Paid Return Preparers Now Available
As part of an initiative to ensure that tax return preparers are competent and qualified, the Internal Revenue Service announced that it has issued final regulations requiring paid tax return preparers to register with the IRS to obtain a Preparer Tax Identification Number (PTIN). A new online application system to obtain a PTIN is now available.
All paid tax return preparers who prepare all or substantially all of a tax return are required to use the new registration system to obtain a PTIN.
Individuals who currently possess a PTIN will need to reapply under the new system but generally will be reassigned the same number.
Free Demonstration of PTIN Registration System
The IRS will offer a free demonstration of the PTIN Registration System for tax professionals on October 19, 2010. Registration is required.
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