The IRS on October 20 announced that it has opened its preparer tax identification number (PTIN) registration system to accept renewals for the 2012 filing season (IR-2011-105). Preparers are required to renew their PTINs annually and must do so before Jan. 1, 2012. Among the changes this year, CPAs will be required to provide the expiration date of their license when they renew (or apply for) a PTIN.
The IRS announced that the PTIN renewal fee for 2012 is $63. The initial application fee for a PTIN remains at $64.25.
The IRS directs return preparers who obtained their PTINs by creating an online account to renew their PTINs at www.irs.gov/ptin. Preparers who applied for their 2011 PTINs with a paper application will receive an activation code in the mail from the IRS; they can use that code to create an online account and convert to an electronic renewal for 2012. Preparers can also renew using a paper Form W-12, IRS Paid Preparer Tax Identification Number (PTIN) Application and Renewal, but the IRS warns that there could be a four-to-six week wait for processing paper renewal requests.
The IRS announced the following changes to the application and renewal process:
- Return preparers who are nonsigning supervised preparers or non-1040 preparers (that is, who do not prepare Forms 1040 for compensation) must identify themselves as such.
- Nonsigning supervised preparers must provide a supervisor’s PTIN when applying for or renewing their PTINs.
- Credentialed preparers (CPAs, attorneys, and enrolled agents) must provide the expiration date for their licenses when they apply for or renew their PTINs.
Nonsigning supervised preparers and non-1040 preparers must identify themselves when they apply for or renew their PTINs to be exempted from registered tax return preparer testing and continuing education requirements; CPAs, attorneys, and enrolled agents are also exempt from the testing and continuing education requirements.