IRS seminar today

[AZ-Tax]

Question: what about those preparers that are not exempt but refuse to test? IRS guy really did not have a reply as I was hoping to hear some penalties imposed.

So when is the deadline for current PTIN holders to renew their PTIN?

[Possi]

3 years

Question: what about those preparers that are not exempt but refuse to test? IRS guy really did not have a reply as I was hoping to hear some penalties imposed.

So when is the deadline for current PTIN holders to renew their PTIN?

I am glad you were able to see the webinar. Mine kept "buffering" and I couldn't watch it.

From what I understood, you don't have to renew your PTIN until you are testing, but it would behoove you to do it sooner so that all your education credits count. You aren't "in the system" until that PTIN is taken care of... of course, I only saw 4 friggin minutes!

[Peachie]

I enjoyed the Webinar

Question: what about those preparers that are not exempt but refuse to test? IRS guy really did not have a reply as I was hoping to hear some penalties imposed.

So when is the deadline for current PTIN holders to renew their PTIN?

though I have to agree your first question was a good one and the response left a lot to be desired.

He didn't really say when the deadline is but I thought the sooner, the better. How about the testing fee of $75 to $300?

Possi had buffering problems. I had no glitches. Smooth sailing from beginning to end.

Peachie

[JohnH]

Was there any discussion about preparers who refuse to e-file?
Any discussion about opt outs or penalties on that matter?

I'm making good progress on getting below 100 clients next year, but the threshhold of 10 in 2012 is going to present some unusual challenges. I may have to roll over at some point and submit to the heavy hand of government.

[Peachie]

Well, they won't be sending you to

Was there any discussion about preparers who refuse to e-file?
Any discussion about opt outs or penalties on that matter?

I'm making good progress on getting below 100 clients next year, but the threshhold of 10 in 2012 is going to present some unusual challenges. I may have to roll over at some point and submit to the heavy hand of government.

jail but they will be taking a look at preparers not complying. Expect a knock on your door after 2012 .

Peachie

[JohnH]

I'm 62.

I may just accelerate my retirement plans & have them on standby to coincide with the knock on the door if it comes in 2012.

My last comment to them as they leave my office may just be, "Say, isn't the Social Security office out there in the same vicinity as the Charlotte IRS center?"

[Peachie]

Lol!

I'm 62. I may just accelerate my retirement plans & have them on standby to coincide with the knock on the door if it comes in 2012.

Sounds like a winner to me John.

Peachie

[Lion]

January

I was taking some software classes today, so my comments are not from the IRS Forum today but from my reading in NAEA newsletters and that type of thing. I think you need your PTIN registered before you file your first tax return after 31 December 2010 and can register when they open sometime in September. You'll still have three years to test, if you have a testing requirement. Hate the idea of one more fee. And, really hate the idea of one more fee for something I already have!

[JohnH]

If that happens, I'll still participate on the forum.

Meanwhile, I'm going to start practicing for my anticipated retirement career. Finding just the right way to say "Hello, welcome to Wal-Mart" and "Thanks, come again soon" ought to cover most of my responsibilites.

[rjholmes]

Still have 3 years to test.

Preparers can get the PTIN this year without testing immediately. So that will give them 3 years I suppose to decide if it is all worth it. But I too am wondering about the returns that IRS will get that has no PTIN and is a paper return signed by a preparer who should be efiling. Will IRS accept them as is? Time will tell. A fee of $75 to $300 might scare away some of the preparers.

[David1980]

One good bit I discovered from that webinar is they're going to reduce the fees for EAs, since the current fee for that overlaps a bit into the new registration as far as what it is supposed to cover.

[tilt53]

Hate the idea of one more fee. And, really hate the idea of one more fee for something I already have!

It's not just one more fee, we'll also have to pay for the testing. From the tone of it, it sounds as if if you fail, you have to pay to retest. For some folks that could cause a problem.

This is a huge revenue venue for the IRS. They said they estimate between 800,000 and 1.2 million preparers. At the lower end at $75 a pop for your PTIN that would bring in $60-90 million. At the high end of $300 it would be $240-360 million.

[JohnH]

It's not just one more fee, we'll also have to pay for the testing. From the tone of it, it sounds as if if you fail, you have to pay to retest. For some folks that could cause a problem.

This is a huge revenue venue for the IRS. They said they estimate between 800,000 and 1.2 million preparers. At the lower end at $75 a pop for your PTIN that would bring in $60-90 million. At the high end of $300 it would be $240-360 million.

And on top of that, don't forget to count all the preparer penalties they plan to collect in the future as well...

[Black Bart]

Any CPE hours for this webinar?

I got one hour for ethics at the last one in January.

I never did get to see it -- got this message for two hours (and still getting it): "Thank you for your interest in this event. The live presentation is currently being archived and will be available shortly." (Doesn't say where.)

[Lion]

One more

I'm an EA, so for me it's one more fee for nothing more than I already have and already do. I've already been tested, have a PTIN, earn educational credits every year, e-file, etc. So, for no change, I have to pay one more fee to keep doing what I'm doing, to stay in business!

Had to pay a fee to NY this past season to file returns for my NY commuters here in CT.

This is getting old fast.