PTINs Must be Renewed Annually

The IRS wants more PTIN (Preparer Tax Identification Number) holders to convert from paper PTIN accounts to online accounts. Over the next couple weeks, roughly 30,000 PTIN holders will receive Letter 4762 from the IRS, which encourages preparers to establish an online account. The online account allows preparers to renew their PTIN, easily update account information as needed, and view their completed continuing education courses. The letter includes step-by-step instructions for creating an online account.

The IRS hopes to save a lot of man hours by converting 30,000 applications and renewals from paper to online, in addition to improving accuracy and timely processing.

PTINs must be renewed annually. If someone plans to prepare tax returns for compensation in 2015, or offer enrolled agent services, they must apply for or renew their PTIN before the end of the year.