The IRS established new regulations for tax professionals recently. After nearly 100 years without any form of tax preparer licensing or overview, it’s time for tax preparers to exhibit that they have a fundamental understanding of tax law, tax preparation and ethical standards. Now there is a new exam that ALL otherwise uncredentialed tax preparers must pass.
After 12/31/13, every single paid tax preparer in the USA must have either passed the new Registered Tax Return Preparer (RTRP) exam or be an Enrolled Agent, CPA or Attorney. With over 300,000 PTIN holders still needing to pass on exam or another…time is running out.
TaxMama has teamed up with Sharon Sanders of the Los Angeles Stakeholder Liaison office of the Internal Revenue service to help spread the word and explain what is expected of tax professionals. We will be holding free, live sessions once a month through December 2013. ($10 fee for CE credit for EAs, CPAs, RTRPs and provisional PTIN holders)
This is a recording of the first session (note: it takes a while to load fully) – CLICK TO REPLAY IRS_RTRP Test Overview The RTRP Exam TaxMama
Care and Feeding of your PTIN Series – Session 2 – The RTRP Exam
- The RTRP Examination
- Who is exempt from the examination?
- When must you pass it?
- Cost of the examination and other issues
- Consequences of not passing the examination