By Payroll and Entitlements Editorial Staff
The Internal Revenue Service today urged tax return preparers to start the upcoming 2020 filing season smoothly by renewing their Preparer Tax Identification Numbers now. All current PTINs will expire Dec. 31, 2019.
“Last year we issued more than 813,000 PTIN’s and are asking tax preparers to renew now to avoid a last-minute rush,” said IRS Return Preparer Office Director Carol Campbell. “Having this essential element done now will make the transition to tax season much easier.”
Anyone who prepares or helps prepare a federal tax return for compensation must have a valid PTIN from the IRS before preparing returns, and they need to include the PTIN as the identifying number on any return filed with the IRS.
Tax preparers with a 2019 PTIN should use the online renewal process, which takes about 15 minutes to complete. Form W-12, along with the instructions, provides a paper option for PTIN applications and renewals. However, it can take four to six weeks to process. Failure to have and use a valid PTIN may result in penalties.
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