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IRS Moves Forward With Preparer Registration Plan


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On Thursday, the IRS issued proposed regulations that would put into place many of the parts of its plan to register and regulate tax return preparers (REG-138637-07). Proposed amendments to Circular 230 would clarify the definition of tax practice, establish a new “registered tax return preparer” designation, define the eligibility requirements for becoming a registered tax return preparer, set tax return preparation standard, and amend the current rules covering CPE providers.

 

The IRS also announced that a new online preparer taxpayer identification number (PTIN) application system is expected to go live in mid-September (IR-2010-91). The third-party vendor administering the system will charge a $14.25 fee, on top of the IRS’ proposed $50 PTIN fee.

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