The end of 2022 is approaching quicker than we realize. Get your Preparer Tax Identification Number (PTIN) renewed so you are able to submit your client’s tax returns in the upcoming year.
Renew Your PTIN Before the End of 2022
It’s time to renew your Preparer Tax Identification Number (PTIN) before the end of 2022. The PTIN is required for all tax preparers to obtain and keep up to date if they plan to prepare a federal tax return for compensation.
With more than 750,000 active tax return preparers expected to prepare and file federal tax returns in 2023, it’s important to make sure that you get yours done before the December 31st deadline.
The PTIN is easy to renew or apply for. As stated by the IRS’s website, you should be able to complete the application within 15 minutes if you choose to submit it online. If you do want to submit it via paper copy, it could take up to four to six weeks for review. In any case, now is the time to get it done!
To renew online, the IRS recommends that you follow these steps:
- Begin at Tax Professionals
- Select “Renew or Register”
- Select “Login” and enter your user ID and password to access the online system
- Select “Renew my PTIN” from the main menu
- Follow the instructions to complete the renewal application
To renew or apply via paper. Form W-12 should be filled out following these instructions.
To apply online, the IRS recommends that you follow the below steps:
- Begin at Tax Professionals
- Select “Renew or Register”
- Select “Create an Account” and follow the prompts to complete the account setup and obtain a temporary password
- Log in and follow the instructions to access the PTIN system
- Select “Register for a PTIN” from the main menu
- Follow the instructions to complete the application process
