Competency Testing for Registered Tax Return Preparers Set to Start

As partial of a ongoing beginning to umpire formerly unenrolled taxation lapse preparers, a IRS announced on Nov 22 that competency contrast for purebred taxation lapse preparers will start subsequent week (IR-2011-111).

The IRS announced that a price for holding a competency examination will be $116 ($27 of that is a IRS user fee). The examination will be a timed, 2.5-hour exam. It will cover a 2010 Form 1040 and a associated schedules. The examination will include of 120 multiple-choice and true/false questions. Test takers will not be authorised to move in any materials though will have entrance to Form 1040, Form 1040 instructions, and Publication 17, Your Federal Income Tax.

There is no extent on a array of times a examination can be taken. Preparers who now have provisional preparer taxation marker numbers (PTINs) will have until Dec 31, 2013, to pass a test.

The examination is accessible in English usually during this time and will be given during Prometric Inc. examination centers.

The IRS warns that initial examination takers will not accept their examination scores for dual to 6 weeks to concede a IRS to countenance a examination and establish a pass/fail cutoff.

Individuals who are CPAs, attorneys or enrolled agents are not compulsory to take a competency examination since they already accommodate some-more difficult mandate to obtain their veteran credentials. Nonsigning preparers who are supervised by a CPA, profession or enrolled representative and who work during a organisation owned during slightest 80% by CPAs, attorneys or enrolled agents are also exempted from a contrast requirement. Preparers who do not prepare, or support in a credentials of, all or almost all of any Form 1040 array lapse are also free from a contrast requirement.

About Emil Estafanous, CPA
Certified Public Accountant (CPA) Tax Professional committed in representing taxpayers and resolving their tax problems.

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