Preparer Tax Identification Number (PTIN) – IRS Targets Incompetent Tax Preparers

Preparer Tax Identification Number (PTIN) – IRS Targets Incompetent Tax Preparers

The IRS is now requiring all paid Tax Return preparers to register for a PTIN.  This will allow the IRS to track the preparers when errors or problems are uncovered.  Although attorneys, CPA, and enrolled agents are already subject to oversight and testing associated with their licenses, a large army of preparers operate with little federal or state supervision because they are unlicensed, and many lack formal training.  The PTIN registration program now brings the previously unregulated preparers within the reach of the IRS.  The PTIN program goes beyond those signing the Tax Return by including every person who touches the return.  In the future, the IRS will likely require competency testing for all newly registered preparers.

Call us for help or with questions!

The Business Wealth Preservation Group is a professional services firm dedicated to providing superior individualized and custom service to individuals and their businesses in the areas of asset protection, tax planning, exit strategies, and wealth building. Simply put – we want to educate you on all relevant opportunities to put more dollars into your pocket, your business and your future.

We focus on leading edge, sophisticated, and safe business strategies that will help business owners structure, operate and maintain their business to take advantage of business and tax laws rather than being encumbered by them. We partner with the business, the accountant, and the attorney to ensure the business owners are capturing all available benefits that align with their business and personal goals.
Call Us Toll Free: (888) 938-2975 (888-WE-TAX PLAN)

Copyright 2010 The Business Wealth Preservation Group, LLC.