Tax Preparer Must Register To E-File

As the first step to establishing a testing procedure for all tax preparers, the IRS has instituted a fee for the federal identification number for all electronic tax preparers.This called the PTIN or Preparer Tax Identification Number. The cost is $64.25. In my view, this is a clear money grab for a number the IRS has assigned me for free the past 10 years. Next up is a competency exam that also promises to come for a price. Now you know why it is time for me to become an Enrolled Agent with the IRS. If I am going to have spend $100 + a year to stay 'compliant' with the IRS, might as well get something for your money.

JAN 11 TAX UPDATE

As soon as the W2s and 1099s start to arrive it is okay to file in most cases. Be aware that the late tax law passed by Congress and signed by the President mid-December will prevent returns with certain conditions from being accepted until Feb. 14!!! Mostly Education and Educator conditions apply here. I'll keep you posted. Charlie