New regulations require all paid tax return preparers to obtain a Preparer Tax Identification Number (PTIN). The cost to obtain your PTIN is $64.25. Beginning Fall 2011, people who do not already have a PTIN will need to pass a competency test and background check. If you have already registered for your PTIN before the exam is available, you will have until December 31, 2013 to pass the IRS basic test of competency. Once you pass the exam, you will become an IRS Registered Tax Return Preparer (RTRP).
Exception—if you are an attorney, CPA or Enrolled Agent (and are active and in good standing with your licensing agency) you are exempt from the test requirement.
Beginning 2012, the IRS will require 15 hours of continuing education for all registered Tax Preparers. Exception—if you are an attorney, CPA or Enrolled Agent (and are active and in good standing with your licensing agency) you are exempt from the continuing education requirement. These professional accreditations generally already have continuing education requirements. The annual CE for Registered Tax Return Preparers must include:
- 10 hours of federal income tax law
- 3 hours of federal income tax law update
- 2 hours of ethics
Our Comprehensive Tax Course provides the educational foundation necessary to successfully pass the IRS Competency Exam (Wage and Non-business Income Form 1040 Examination). This course will enable you to prepare individual tax returns for the general public, including individual taxpayers who operate sole-proprietor businesses. At the completion of the course, you will be able to complete most individual non-business and small business (self-employed/Schedule C) tax returns and research tax issues. Included with the Comprehensive Course are Free IRS RTRP Exam practice questions to help you successfully pass the IRS Exam.