The Internal Revenue Service (IRS) today releases a press to urge all tax professionals and tax return preparers throughout the United State to renew their Preparer Tax Identification Numbers (PTIN) as soon as possible in 2019. The statement is made so that the upcoming tax return filing season of 2020 in USA can start in a smooth manner. It must be noted that the current Preparer Tax Identification Number (PTIN) of all tax preparers in the United States is getting expired on 31st December, 2019. Therefore, the IRS recommends for renewing PTINs of all tax payers in USA before 2020 for filing taxes in the next year.
The Return Preparer Office Director at the IRS made a statement regarding this matter and said, “Last year, we issued above 813,000 PTIN’s and are asking tax preparers to renew now to keep themselves away from a last-minute hurry. Having this vital element done at the moment will compose the transition to tax season much easier.”
What is a PTIN in USA?
PTIN stands for the Preparer Tax Identification Number that is allocated specifically to the tax return preparer. All paid tax return preparers must use his/her exclusive Preparer Tax Identification Number (PTIN) on US federal tax returns. Furthermore, the Preparer Tax Identification Number can also be used for claiming the tax refunds that are submitted to the Internal Revenue Service (IRS). All tax professional in the United States are required to include the PTIN as the identifying number on any tax return, which is filed with the IRS. In short, any individual who either prepares or helps in the preparation of a federal tax return for compensation must have a valid Preparer Tax Identification Number (PTIN) in USA.
How to Renew A PTIN Online:
The online renewal process for Preparer Tax Identification Number (PTIN) should be used by those tax professionals who have a 2019 PTIN. Online renewal procedure of PTIN takes only 15 minutes for completion to renew your PTIN in USA. For PTIN applications and renewals, other paper option includes filing of Form W-12 (PDF), along with the instructions (PDF) that takes about 04 to 06 weeks to complete. If the tax preparer fails to renew PTIN. Then the IRS has the right to impose severe penalties in this case. To avoid these penalties, contact us today to get your PTIN renewal for 2020 tax filing anywhere in the United States.
For our readers’ compliance, we are briefing the easy procedure of online PTINs renewal step-by-step in USA:
Key-Points by IRS briefing about renewal of PTINs
- Open gov/tax-professionals in the browser and select “Renew or Register” button from the opened page.
- If you are a new user, you need to create an account on this page by selecting “Create Account”.
- A temporary password is allocated to the new users at their first time. Upon logging in, they will be given option to change their current password if they want.
- Once you are logged in, select “Sign Up with SSN” on the same page and follow the instructions.
- Login to the online PTIN account for renewal and enter your user ID and password.
- Follow the instructions for the verification of information after answering few questions.
- After completion of the verification and answers, the user will get a confirmation notification regarding the renewal of PTIN.
- The best part is that there are no fees for obtaining or renewing a PTIN for 2020 in USA.
The online system for Preparer Tax Identification Number (PTIN) not only allows the renewal of PTIN. But it also enables the tax preparers to certain other benefits. The other advantages of online PTIN system include continuing education credits outlook for tax preparers. Summary of the number of tax returns for which the PTIN have appeared on in the current year. Notification alert service via secure mailbox from the IRS Return Preparer Office.
How to Apply For a New PTIN?
If you do not have a Preparer Tax Identification Number (PTIN) in the United States. You can easily apply to get new PTIN online in USA. The procedure takes only 15 minutes and amazingly it does not charge any fees for obtaining a new PTIN.
Charges To Obtain Or Renew PTIN In USA:
If you want to obtain a new PTIN in USA or you want to renew your exiting PTIN in USA. There are no charges for both of the procedures. The IRS does not charge any fee for obtaining or renewing your PTIN throughout United States.
Get Your New PTIN Or Renew It By Black Ink:
Black Ink is the house of accounting & taxation services in USA that provides complete business and tax support to individuals as well as business owners. If you have not yet got a Preparer Tax Identification Number (PTIN) in the United States, you can make free inquiry with our representative who can guide you towards complete PTIN consultancy. If you are interested in renewal of PTIN for 2020 in USA, we can also help you in this regard. Simply request call back and we will get in touch with you within 24 hours. Check our latest update about IRS urges for renewing ITIN before expiry in 2019 to avoid any delay in your tax refunds in the upcoming taxation season of 2020 in the United States. Give us your valuable feedback in the comments section.