The IRS has recently released further details involving new requirements for registered tax return preparers.  All registered tax return preparers will need to renew their PTINs for 2012.  In addition, some preparers will be required to pass background checks, pass a competency test and take continuing education courses on an annual basis.

PTIN Renewal for 2012

• IRS Registration for 2012 PTIN renewal will begin on October 16, 2011.
• Preparers who applied for their PTINs on paper will be able to renew either online or on paper.
• The registration period for renewing a PTIN is based on a calendar year, not an annual basis.

Testing Requirements

• Preparer testing should be available starting in October.
• The estimated fee for the test is $100 - $125.
• Prometrics, Inc. will be administering the testing.
• Preparers applying for an initial PTIN will be required to pass the test before they receive their PTIN.
• Preparers renewing their PTIN will have until December 31, 2013 to pass the test.
• Further details are scheduled to be determined in the next several weeks.

Fingerprinting

• All registered return preparers will be required to submit their fingerprints to the IRS when they renew their PTIN this fall or take the required competency test.
• The approximate fee for the fingerprints and submission to the IRS is $60 - $90.
• Return preparers will be required to use Prometrics, Inc. or Daon Trusted Identity Services for submission of their fingerprints.

Continuing Education

• Registered return preparers will be required to complete 15 CE credits annually beginning in 2012.
• The continuing education requirement will be broken down into 2 hours of Ethics courses, 3 hours of federal tax law updates and 10 hours of general federal tax law.
• CE courses completed in 2011 will not count towards the CE requirements for 2012.