The Internal Revenue Service in a report published on Monday announced that it will require all paid tax return preparers to register with the Service using a Preparer Tax Identification Number (PTIN). Preparers will be subject to ethical standards and disciplinary action and monetary penalties of Treasury Department Circular 230.
Last week the IRS issued two Section 7216 rulings providing guidance to tax return preparers. Each of these rulings covered three issues relating to situations in which preparers will not be liable for criminal or civil penalties under IRC sections 7216 and 6713.
The Internal Revenue Service kicked off the 2010 tax filing season today by issuing the results of a landmark six-month study that proposes new registration, testing and continuing education of tax return preparers.