We are less than 90 days from 2020 and it's already time - crazy as it sounds - to start getting ready the 2020 tax season. You can now renew your PTIN for the 2020 tax season and for tax preparers who want to take advantage of the IRS's Annual Filing Season Program (AFSP) benefits, they are due by December 31, 2019. Learn more about this year's AFSP program and how you can obtain your Preparer Tax Identification Number (PTIN) for the 2020 tax year.
Earn your AFSP Record of Completion
The AFSP allows non-credentialed tax return preparers who fulfill certain continuing education (CE) requirements to be listed in the IRS's online Directory of Federal Tax Return Preparers. Enrolled Agents (EAs) are also eligible for inclusion in the Directory, and both statuses allow non-CPA tax preparers to expand their client base and prove their ability to prepare taxes without sitting for the CPA exam.
To achieve an AFSP Record of Completion for the 2020 tax year, you'll need to do three things: (1) complete your 15 (exempt) or 18 hours (non-exempt) of IRS Approved CE courses by December 31, 2019; (2) consent to circular 230 within your PTIN account once CE is completed; and (3) obtain a valid 2020 Preparer Tax Identification Number by the end of this year.
See available AFSP Packages Here.
Getting Your PTIN
There are more than three-quarters of a million tax preparers living and working in the U.S., and each federal tax return preparer has (or had) a PTIN through the IRS. Charging a client to prepare their taxes without having a valid PTIN on file can lead to civil penalties and may increase the risk of audit.
Every 2019 PTIN will expire when the New Year's Eve ball drops, so those who wish to maintain their tax preparer status for 2020 will need to renew their PTIN before this point. Because there's often a post-holiday rush on PTIN applications, will avoide slow or overloaded times to ensure the best and fastest processing time and ensure you can get a jump start on the 2020 tax preparation season.