September 23, 2018

Paid Tax Preparers Fail to Register for IRS’ New PTIN

“The IRS began a new initiative in 2010 that was designed to prevent fraud and the wrongful filing of information with the IRS. This morning, the IRS announced that over 100,000 tax preparers failed to comply with the new requirements that were made, and many individuals and families have been left unsure as to exactly why their tax returns have taken longer than usual.

The new initiative set into place last year required that tax preparers register with the IRS to receive an identification number to be used in all of the returns they prepare, while the latter portion of the initiative would include an exam and annual training to help with errors and fraud. Although an estimated 712,000 preparers have already registered under the new requirements, the IRS sent out over 100,000 letters this morning informing those that were unaware or failed to comply to the new laws set into place.

No penalties or fees will be applied to those who failed to comply to the new laws set into place, but instead the letter will include a detailed explanation of the new requirements and the steps that tax preparers can take to legally register themselves with the IRS. A fee of $50 per return may be applied in future cases, and court orders barring individuals who fail to comply repeatedly can be issued as well.

The IRS has also sent out a warning advising citizens of fraudulent tax preparers who may refuse to sign your returns in an attempt to avoid the new laws. Any individual entity or company that claims to charge fees based on the size of your returns or promise you a larger refund should also be avoided, as this is another tell-tale sign of fraudulent activity that might prevent your tax returns from being given to you entirely.

A reported 80 percent of U.S. Taxpayers go through a registered tax preparer or computer tax software to file for their taxes at the end of every year, so the report of over 100,000 preparers that failed to comply to the new laws has certainly turned quite a few heads. Still, a vast majority of professionals in America were able to register under the new laws and submit tax forms that were in complete compliance.”

Washington Post

IRS: 100,000 Tax Preparers Fail To Follow New Rules

IRS Says 100,000 Tax Preparers Fail To Follow New Rules

IRS Says 100,000 Paid Tax Preparers Fail To Follow New Registration Rules

100,000 Paid Tax Preparers Fail To Follow New Registration Rules