IRS Reminds Practitioners to Renew PTINs for 2017

(Parker Tax Publishing November 2016)

The IRS has issued a reminder for professional tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) if they plan to prepare returns in 2017. IR-2016-142.

Anyone who prepares or helps prepare any federal tax return, or claim for refund, for compensation must have a valid Preparer Tax Identification Number (PTIN) from the IRS. The PTIN must be used as the identifying number on returns prepared. All enrolled agents, regardless of whether they prepare returns, must have a PTIN in order to maintain their status.

PTINs for use during 2016 expire December 31, 2016. Tax professionals can obtain or renew their PTINs in order to prepare returns in 2017 at irs.gov/ptin.

Those renewing their PTINs can complete the process in about 15 minutes, according to the IRS. The renewal fee is $50. Tools are available to assist any preparers who have forgotten their user name, password, or email address.

New tax return preparers who are obtaining a first-time PTIN must create an online PTIN account as a first step and then follow directions to obtain a PTIN. Their fee is also $50.

For a discussion of the PTIN requirement, see Parker Tax ¶275,100.

Disclaimer: This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations. This analysis is not tax advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. The information contained herein is general in nature and based on authorities that are subject to change. Parker Tax Publishing guarantees neither the accuracy nor completeness of any information and is not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. Parker Tax Publishing assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect information contained herein.

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