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Tax Preparers Take The New RTRP Test- Important News- Self Taught Personal Tax Preparers
RTRP Test For Certain Registared Tax Return Preparers
Changes in the tax field should be expected. If you are a (RTRP) Registered tax return preparer or planning to be one you should always be on top of the most current updates in the field. For instance there is a new Test called the RTRP.
This test must be completed by a Enrolled Tax Preparer with a valid (PTIN) Preparer Tax Identification Number with 15 hour of (CE) Continued Education training by December 31, 2013. You can renew or obtain your PTIN at www.irs.gov/ptin. If this is not done you will not be able to do any tax services in the coming year.
Of course you may feel strange taking a test confirming your are a tax preparer after doing so for years and normally just renewing your PTIN in 15 minutes online but if you want to be in this business you have to stay in compliance with the IRS.
What You Need Before Taking RTRP Test
- Be a Enrolled Tax Preparer With Valid PTIN
- Proven 15 hours of continued education training.
Tax Preparer Who Should Take The RTRP Test
- Tax Preparers with Valid IPINs
- All Tax Preparers That are not exempt
Tax Preparer Exempt From Taking The RTRP Test
There are many people that must take the RTRP Test. However if you fit any of the descriptions below, you are exempt from doing so:
- Certified Public Accountant
- Supervised prepared employed by law or accounting firm owed by more than 80% CPA, attorney's or EA's supervised by CPAs,Attorneys or EAs that signs and reviews the returns prepared.
- Preparers who do not prepare form 1040 series return.
Remember before taking the RTRP Test is taken the candidate must prove that they have 15 hrs of the current year continued education.
My final thoughts is to the tax preparers that have taught themselves to prepare taxes and are making good money for it. Take the time you need to get training on personal tax returns and get the RTRP test behind you.
Tax Preparer Training Course
In July there will be tax training courses beginning everywhere. You can learn on your own and take the course for certification. Liberty Tax gives free tax courses and only charges you $159 or so for the book.
I'm sure there are others that may do the same. H&R Block is very popular and have courses that cost much more. Use the search engine and find out your options in your town.
- college course
- tax office
- online course (webinars)
For all you self trained tax preparers this change will make you a true professional.Take care of your business and take your test by December 31.2013 if not you are out of business. You knew Uncle Sam would be coming after you after all of these years. Don't fight your uncle get your tax preparer training, take the RTRP test and stay in business.