Federal Tax Return Preparers Reminded To Renew Their PTINs

For those who have never experienced obtaining a Tax ID, the process seems confusing. This is partly because the IRS online application form is full of unclear directions. Many new business owners are afraid to make mistakes in the application form. An option for new businesses is Texas Online Application Form that has quicker turnaround time than the government website.

The Internal Revenue Service (IRS) is reminding the nation’s 720,000+ federal tax return preparers regarding the renewal of their Preparer Tax Identification Numbers (PTINs) for 2018 because their current PTINs are due to expire by December 31, 2017. Federal tax return preparer is anyone who prepares or helps prepare federal tax returns or claims for refunds from compensation.

Every federal tax return preparer must have valid PTINs from the IRS. The PTIN will be used as identification number for the tax returns they have prepared. Failure to have PTIN can result into penalties for the preparers. If renewal is made as early as possible, the preparer can avoid the rush.

Renewal of PTINs takes only a few minutes online. Those who have forgotten have their passwords can make use of online tools for assistance. First time registration can also be done online without any fees. On the other hand, non-credited tax preparers are encouraged to undertake continuing education courses to increase their knowledge and improve their readiness for the filing season.

Participation in the voluntary IRS Annual Filing Season Program generally requires 18 hours of continuing education including a course in basic tax filing issues and updates, ethics and other federal tax law courses. The IRS Annual Filing Season Program is the filing season qualification while enrolled agent program provides professional status. Enrolled agent credential is the elite credential provided by IRS to tax professionals that demonstrate special competence in federal tax planning.

For businesses, the Texas Tax ID is very important because it will be required in numerous situations associated to running the business. Businesses can access the Texas Online Application Form through the IRS website or other online resources. Simplified Tax ID application forms from online resources are easier to comprehend and provide you with everything you need.

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