IRS Compentency Exam

[taxea]

http://www.natptax.com/TaxKnowledgeCenter/trp/Pages/Exam.aspx

[Possi]

Let the Learning Begin!

I have several classes set up, but this is a great link for many courses I need to take to refresh myself and learn much more.

It says that if you buy the course, you have a year to take the exam. Since I'll be registered in that time... before I take the exam... I wonder if THAT exam will count toward my requirements as a registered tax preparer.

Can anyone puzzle me that?

[taxea]

If they offer CPE credits for the course it will count toward your 15 CPE credits but it won't stop them from testing you. I would suggest that you register and get the PTIN before you take any of the courses to be sure that the CPE counts.

[Possi]

register

I already have a PTIN. Are you saying I should REGISTER BEFORE I take the classes; or before I take the tests? If I'm not registered, the classes won't count?

Can I register now?

[Lion]

Registration

I don't think registration will be open until about September. And, you will be on a fiscal year re your registration anniversary and not a calendar year for education, so you might want to wait for courses. You will be able to get your same PTIN reissued to you.

I have to pay to renew my EA, and the new NY fee this tax year and every year, and now the new fee for the privilege of having my own PTIN by January and every year. I guess I'll raise fees next tax season!

[JohnH]

I think everybody should consider raising fees next year - maybe more than you ordinarily would think of as a normal year's increase. It's a simple matter of supply and demand.

[taxea]

I don't remember having to pay for the original PTIN. My understand, at the moment, is that if you have a PTIN it may be reissued upon registration. If you are an EA there will only be your renewal fee.
If you are not an EA (already registered with the IRS) the cost is for the registration which will include a PTIN. Registration is set up for Sept to the end of the year. You will not be able to file tax returns without the PTIN in 2011.
The next step is the exam which you have at least a couple of years to take. My suggestion is that you get the PTIN and register, then take the courses for CPE credit (be sure they include the courses the IRS is requiring) and take the exam.
Once you have done this, you will be required to take 15hrs of CPE courses each year.

[taxea]

I don't think registration will be open until about September. And, you will be on a fiscal year re your registration anniversary and not a calendar year for education, so you might want to wait for courses. You will be able to get your same PTIN reissued to you.

I have to pay to renew my EA, and the new NY fee this tax year and every year, and now the new fee for the privilege of having my own PTIN by January and every year. I guess I'll raise fees next tax season!

Lion are you sure you will have to pay for a PTIN? Don't you have one? I didn't think there was an extra charge for EA's. Also are you saying your EA renewal is yearly? Is that new?

[MLINDER42]

Ptin

From what i read you will have to pay a registration fee.If you have a PTIN you will keep the same one.I am an EA. we will have to pay an additional fee for this renewal which is every three years.The fee for the PTIN is to pay for the program so it is at no cost to the IRS.

[Lion]

Ptin

EA renewals are every three years, the associated required education has an annual minimum based on a calendar year, every calendar year. EAs will not have to take the new preparer registration exam. But, EAs will have to register -- and pay the fee -- to receive their PTIN annually (but can receive their current PTIN). So, yes, my original PTIN was free, but now I have to register and get a PTIN, the same PTIN, with an annual fee. Also, my NAEA renewal is annual and expensive, but voluntary even if I stay in this career. With NY's new fee and the new federal registration fee, this career is getting more expensive every year. I would expect CT to follow NY soon. And, the EA fee could follow the new registration schedule and go to annual, but I hope not.

[newbie]

Lion are you sure you will have to pay for a PTIN? Don't you have one? I didn't think there was an extra charge for EA's. Also are you saying your EA renewal is yearly? Is that new?

I don't remember having to pay for the original PTIN. My understand, at the moment, is that if you have a PTIN it may be reissued upon registration. If you are an EA there will only be your renewal fee.
If you are not an EA (already registered with the IRS) the cost is for the registration which will include a PTIN. Registration is set up for Sept to the end of the year. You will not be able to file tax returns without the PTIN in 2011.
The next step is the exam which you have at least a couple of years to take. My suggestion is that you get the PTIN and register, then take the courses for CPE credit (be sure they include the courses the IRS is requiring) and take the exam.
Once you have done this, you will be required to take 15hrs of CPE courses each year.

From IRS site: "Proposed New Requirements for Tax Return Preparers: Frequently Asked Questions":

Fees

Enrolled agents currently pay $125 for enrollment and renewal. Attorneys and certified public accountants pay similar fees to their oversight organizations. Will the fee for obtaining a PTIN be applicable to all enrolled agents, attorneys and CPAs in addition to their other fees? (revised 3/29/10)

Yes. All paid tax return preparers will have to pay a fee to obtain and renew their PTINs. This fee is in addition to any fee that paid tax return preparers must pay for any other certifications or licenses they hold. Because attorneys, CPAs and enrolled agents are exempt from testing, they will not be required to pay the separate testing fee.

[MAJ]

NY Fees

I don't think registration will be open until about September. And, you will be on a fiscal year re your registration anniversary and not a calendar year for education, so you might want to wait for courses. You will be able to get your same PTIN reissued to you.

I have to pay to renew my EA, and the new NY fee this tax year and every year, and now the new fee for the privilege of having my own PTIN by January and every year. I guess I'll raise fees next tax season!

I am in NJ - I have a few (about 8) NY [multi-state] returns I prepare. Last year the limit was 10 returns before I would have to pay the $100 fee. Will that change for the 2010 season?

[OtisMozzetti]

I read from the IRS that the annual fee for renewal of the PTIN will be $50 for the IRS, plus "substantially less than $50" for an outside firm which will provide the website for renewing the PTIN. It seems to me it comes out to substantially almost $100 for the first year of PTIN renewal.

[Lion]

And,

And, because it's now an annual renewal, instead of the proposed 3-year renewal, we get to pay the outside company annually for the privilege of renewing our own existing PTIN.

Think the NY issue is still up in the air. I was just searching on their web site for new news.

[DaveO]

So when do the IRS employees have to take their Compentency Exam?