Posted 11/14/11

REVISED PTIN FORM RELEASED BY IRS

The IRS has released revised Form W-12, IRS Paid Preparer Tax Identification Number (PTIN) Application and Renewal. The new version of the Form replaces the October 2010 version. The new Form reflects changes made in the PTIN program in the last year. It now asks whether the applicant prepares Form 1040 series tax returns for compensation. It also asks whether the preparer is supervised employee of a firm 80% owned by CPAs, attorneys, or enrolled agents, and whether the supervising CPA, attorney, or enrolled agent signs the returns that the employee prepares. If so, the preparer is a "supervised preparer" and must enter his or her supervisor's PTIN on the Form. Finally, the Form requests more details on the preparer's professional credentials, including the expiration date for the credentials of an attorney, CPA, enrolled agent, enrolled actuary, enrolled retirement plan agent, certified acceptance agent, or state regulated tax preparer.

Click here for the revised Form W-12