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Don’t Forget to Renew Your PTIN!

Now that turkey dinners are in the rear view, the December holiday festivities are just a few weeks away—but it’s not quite time to rest on pre-filing season laurels.

Despite 2019 being around the corner, some tax professionals still need to renew their preparer tax identification numbers, and time is running out. That’s why the IRS once again reminded tax professionals about the December 31 deadline to renew PTINs. Since paid tax return preparers are required to have a PTIN and they cannot apply for one after the ball drops in Times Square, it’s pretty important that they resolve this bit of paperwork sooner than later.

The November 19 IRS Tax Tip included important information and links for tax professionals who need to renew their PTIN. IRS.gov/PTIN breaks down the renewal process into three steps:

1. Access Your Account
2. Verify Your Information
3. PTIN Renewal Confirmation

After logging into your IRS.gov account, you’ll simply complete the online application by providing the required personal information (click here to see the checklist). Applicants who are applying for the first time will need to follow this link: RPR.IRS.gov/Datamart/mainMenuUSIRS.do.

Long story short, while you’re busy learning all about the Tax Cuts and Jobs Act and updates to your tax preparation software, don’t forget to renew your PTIN.

Note: If you’re wary of online applications, the IRS notes that you can submit Form W-12 by mail, but that process usually takes more than a month to process. First-time PTIN applicants may be happy to learn that a 2017 court ruling found that the IRS could not charge applicants a fee. The only barrier to entry is the required info and a little bit of time.

Source: IRS Tax Tips

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