The Preparer Tax Identification Number Essays

832 Words Jun 28th, 2015 4 Pages
PTIN:
The Preparer Tax Identification Number (PTIN) is required by the IRS for those enrolled agents or for those prepares who receive compensation for preparing forms of tax, this requirement was implemented by the federal government in 2011, in order to that there would be people with better preparation, approved by the same IRS, to help the community in preparing their taxes.
The process of obtaining a PTIN has an initial cost of $ 64.25 and an annuity of $ 63 for renewal.
For this issue, the trainer must be over 18 years old, and have knowledge of the laws of tax preparation.
The PTIN must be obtained by any person receiving compensation for the preparation of an income tax document, lawyers and certified public accountants, do not require this identification number.
To prepare Tax Return documents, without PTIN number, is sanctioned by the Internal Revenue Service and the person may be subject to some penalties.
The PTIN number is issued on a personal basis, there is only one number for preparer or company, and in this case employees can use the company’s number, and not need to get one.
To get the PTIN persons interested in the preparation of documents Tax Return, must submit an application W-12, which after being completed takes from 4-6 weeks to be approved.
E-filing
There are three ways to file your income tax, IRS free fillable forms that you can send by mail, Commercial software, trough IRS approved software that allows you to file and transmit your income tax…

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