Warning: Use of undefined constant wp_cumulus_widget - assumed 'wp_cumulus_widget' (this will throw an Error in a future version of PHP) in /home/www/cpa-la.com/wp-content/plugins/wp-cumulus/wp-cumulus.php on line 375
IRS Gives Relief to Return Preparers with Pending PTIN Applications - Emil Estafanous, CPA : Emil Estafanous, CPA

IRS Gives Relief to Return Preparers with Pending PTIN Applications

Because some lapse preparers are carrying difficulty with a IRS’ new online preparer taxation marker series (PTIN) application, a IRS on Jan 24 announced that it is providing service for preparers who make a good-faith bid to approve with a new PTIN requirement (Notice 2011-11).

The IRS will assent preparers who accommodate criteria specified in Notice 2011-11 and who accept presentation from a IRS that it was incompetent to routine their online PTIN focus or who accept an acknowledgment of receipt of Form W-12 to ready and record taxation earnings or claims for reinstate for remuneration after a taxation lapse preparer complies with all instructions supposing in a presentation or acknowledgment letter.

All paid taxation lapse preparers, including CPAs, now contingency use a PTIN when signing all taxation returns, forms or claims for reinstate (except for certain specified earnings and forms—see Notice 2011-6), and contingency have performed or renewed an existent PTIN to ready earnings after Dec 31, 2010. The IRS launched an online PTIN focus complement on Sept. 28, yet many practitioners have reported carrying difficulty renewing or receiving a PTIN regulating a system. See “PTINs a Pain for Some CPAs.”

Notice 2011-11 says that taxation lapse preparers who are catastrophic in receiving a PTIN regulating a online complement will be told that their focus was not processed and will accept “appropriate instructions.” They contingency approve with those instructions to settle that they are creation a good-faith bid to comply. For people who do not try to use a online PTIN focus system, a notice says a acquiescence of a processable paper Form W-12, IRS Paid Preparer Tax Identification Number (PTIN) Application, and remuneration will generally consecrate a good-faith try to approve with a requirement.

Return preparers who have determined that they have done a good-faith try to approve with a PTIN requirement can use a PTIN released before Sep 28, 2010, or their Social Security series if they do not have a formerly released PTIN, during a 2011 filing deteriorate or until they accept a new PTIN, whichever is earlier. After they accept a new PTIN, they contingency use a new PTIN. They contingency also compensate a $64.25 PTIN focus price for a 2011 filing deteriorate even yet estimate of their focus might be delayed.

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

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

Our clients are located throughout Southern California in cities such as Los Angeles, CPA: Whittier, Santa Fe Springs Accounting, Artesia, Cerritos CPA, Bellflower: Tax Preparation, Payroll: Downey, La Palma, Accountant: La Mirada, IRS Representation: Lakewood , Gardena, La Habra, Brea, Rancho Dominguez, Hacienda Heights, Torrance, Diamond Bar, South Bay, Pomona, Carson, Buena Park, La Puente, Orange, Anaheim, Fullerton, Seal Beach, Costa Mesa, Irvine, Garden Grove, Huntington Beach, Santa Ana, Hawthorne, Santa Monica, Montebello, Pico Rivera, Newport Beach, Hollywood, and many more.