NEW IRS COMPLIANCE
Hallmann Tax Group, LLC
Tax Preparation
and IRS Problem Resolution
For tax year 2010, the Internal Revenue Service is requiring paid tax preparers to obtain a Preparer Tax Identification Number or “PTIN”. The IRS hopes the "PTIN" number is the first step in holding the industry accountable.
According to IRS.gov website the proposals for testing and continuing education are as follows:
The IRS has proposed that certain individuals will have to pass a competency test to officially become a Registered Tax Return Preparer. The IRS expects testing to begin in mid-2011.
Individuals exempt from testing will include:
·
Attorneys, certified public accountants, and enrolled agents
Attorneys, certified public accountants, and enrolled agents ·Certain supervised preparers
Certain supervised preparers ·Those who prepare no Form 1040 series returns
Those who prepare no Form 1040 series returns The IRS has proposed that Registered Tax Return Preparers will be required to complete continuing education annually.
