GOOD news comes early for tax preparers as the IRS has dropped the PTIN fee to $19.75.
Currently, PTINs are required to file taxes professionally. Although they are not free as they were a few years back, they have been way more expensive the last two years.
Below are some details as to how to renew or file for a PTIN from the IRS.
Paid tax return preparers with a PTIN expiring on Dec. 31, 2023, should use the online renewal process, which takes about 15 minutes to complete. A paper option, Form W-12, IRS Paid Preparer Tax Identification Number (PTIN) Application and Renewal, along with the instructions, are also available for PTIN applications and renewals. However, the paper form can take approximately six weeks to process.
To renew a PTIN online:
Start at IRS.gov/taxpros.
Select the “Renew or Register” button.
Select “Log in” and enter the user ID and password to access the online PTIN system.
Select the “Renew my PTIN” button from the main menu.
Once completed, users will receive confirmation of their PTIN renewal.
The online system not only allows PTIN renewal, but tax return preparers can:
Check their continuing education.
View a summary of the number of filed returns on which their PTIN has appeared in the current year.
Receive communications through a secure mailbox from the IRS Return Preparer Office.
Track their progress for participation in the IRS Annual Filing Season Program.
First-time PTIN applicants can also apply for a PTIN online.