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.

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