Monday, October 23rd, 2017

Tax preparers are required to be registered in 2011

Posted: Tuesday, October 5, 2010

Beginning January 2011, all paid tax preparers are required to be registered and receive a PTIN (Preparer Tax Identification Number).  Included in the new registration requirement are testing, background checks, and testing of anyone preparing tax returns for pay.  This new requirement is a result of a previous comprehensive six-month study by the Internal Revenue Service. With 60 percent of American households using a tax preparer to help them prepare and file their taxes, higher standards for the tax return preparer community will significantly enhance protections and service for taxpayers, increase confidence in the tax system and result in greater compliance with tax laws over the long term.  Previously, many return preparers do not have to meet any government or professional mandated competency requirements before preparing a federal tax return for a fee.

Carnes Company CPA PC professionals are all registered under the new program and will have each attained 40+ hours of additional continuing education during the current year.  Carnes Company focuses on accounting and tax services for closely held businesses and their individual owners.  They also cater to individuals who desire professional services in the area of taxation and financial matters.  You can reach the firm by calling 356-8888 or go to their web site http://www.carnescompanycpa.com