By Kelly Phillips Erb
The Internal Revenue Service has announced that the Preparer Tax Identification Numbers (PTINs) for 2018 is underway. All current PTINs will expire on December 31, 2017.
If you’re scratching your head and thinking that you seem to recall that tax return preparers no longer need a PTIN, here’s the reason for the confusion.
The PTIN system was shut down earlier this year following a U.S. District Court ruling which barred IRS from charging PTIN fees to tax return preparers. The ruling was in response to a class action suit which challenged the right of the IRS to require and charge for PTINs. A PTIN is an identifying number – like a Social Security number – for tax return preparers and certain other tax professionals. Since 1999, tax return preparers have been able to use a PTIN on tax returns instead of their Social Security Numbers; they also used to be free…