Sunday, November 6, 2011

How to Renew your PTIN?

In IRS Newswire Issue Number IR-2011-105 the IRS outlined the details of their new annual PTIN application and renewal process. The following list provides the most important highlights from this recent Newswire publication:
  • Annual renewals of PTINs will happen each year between October 15 and December 31.
  • The initial application fee to receive a PTIN is $64.25.
  • The renewal fee for an existing PTIN is $63.00.
  • Applicants can apply via paper Form W-12 but are encouraged to use the online system ( to avoid the four to six week wait period associated with the paper form of filing.
  • Any individual who prepared returns in 2011 without a valid PTIN will need to first apply for a 2011 PTIN ($64.25) and then pay the renewal fee for 2012 ($63.00). Penalties may be assessed to paid tax return preparers who prepared, or helped prepare returns in 2011 without valid PTINs.
  • The new process includes the following self-identification requirements:
    • Return preparers must self-identify if they are supervised preparers or non-1040 preparers.
    • Supervised preparers must provide their supervisor’s PTIN when applying for or renewing their own PTIN.
    • Credentialed preparers (CPAs, attorneys and EAs) must provide the expiration date for their licenses when they apply or renew their PTINs.