PTIN and EFIN - Year 2

I had actually looked forward to the day the IRS let me renew my preparer identification number. Don't ask me why, perhaps I couldn't wait to get it over with. I can recall the number of preparers who complained about the PTIN process. Some needed days to enroll, others needed weeks and some never bothered.

In 2010, the process took me about 20 minutes. This time, I needed just 15 minutes. Had I not substituted an EIN for my SSN and added an expiration date on my CPA license, I would have been done sooner. Best of all, it cost less (I know it's only $1.25 - but I'm glad to keep the change)!

At least I did not have to worry about my EFIN.  I am surprised, however, that the e-file requirement for more 10 returns is news to anyone. Of course, I had thought the same thing about nonprofits needing to be reminded repeatedly they would lose their tax-exempt status if they did not file for three years in a row.

I guess the one unknown heading into 2012 will be the drop in tax preparers due primarily to continuing education requirements. After all, I never thought $64.25 would result in the number of preparers falling by at least one-third.

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Alan is a sole practitioner based in Central Ohio. He made a career change at 40 after working as a journalist for more than 15 years. Alan started his practice in May 2010 and currently focuses on not-for-profit organizations, individuals and small businesses. He has helped a number of nonprofits obtain their tax-exempt status and assisted others with their audit, compliance and tax needs. Alan has overcome many obstacles, and has spent the past 11 years primarily as an auditor. He also has worked on audits of financial institutions, closely-held businesses and began his second career as an ABL field examiner.

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