Education, application deadlines quickly approaching for tax pros renewing designations

APPLETON, WIS. / AGILITYPR.NEWS / November 02, 2022 / The deadline for tax preparers with certain designations or Preparer Tax Identification Numbers (PTINs) to complete renewal applications and continuing education requirements is quickly approaching.

Professionals will need to meet these deadlines in order to practice with their designation in 2023.

Enrolled agents (EAs) with Social Security numbers ending in 4, 5 or 6 can renew their status between Nov. 1, 2022, and Jan. 31, 2023. Those renewing need to have completed 72 hours of continuing education (at least 16 each year) during their three-year renewal cycle, and two hours need to focus on ethics each year.

Once the continuing education is completed and the renewal window opens, EAs can submit Form 8554 online or through the mail. Education records do not need to be attached; providers should be reporting information to the IRS.

Anyone preparing or assisting in preparing federal returns for compensation must have a valid 2022 PTIN before preparing returns. Tax professionals can renew their PTIN online after completing the online renewal application by Dec. 31, 2022. There is a $39.95 renewal fee.

Tax preparers under the Annual Filing Season Program (AFSP) – Record of Completion are also required to renew their PTIN each year, and consent to adhere to their obligations in Circular 230, Subpart B and Section 10.51. Preparers seeking this re-certification are required to complete 10 continuing education hours of tax law, two of ethics and three of tax update each year by Dec. 31, as well as pass an annual AFTR course and exam (unless exempt).

“Earning and maintaining a designation is a step tax preparers can take to ensure the viability of their career for years to come,” said Tom O’Saben, NATP’s director of tax content and government relations. “As the IRS amplifies its audit efforts with funds from the Inflation Reduction Act of 2022, taxpayers may receive more IRS communications, creating a big opportunity for tax pros to expand their services and clientele.”

The National Association of Tax Professionals (NATP) offers education year-round where preparers can earn credits for continuing professional education (CPE), applicable to those with EA, CPA, AFSP and CRTP designations.

To speak with someone further on this topic, please contact Samantha Strong or Nancy Kasten. Visit natptax.com to learn more about NATP.