Did You Renew Your PTIN?

Holiday decorations are going up, Thanksgiving is right around the corner, and before you know it, we’ll be bringing 2016 to a close. With all the holiday commotion, you don’t want to forget to renew your PTIN. “We ask that you renew your PTIN as soon as possible to avoid a last-minute rush,” said Carol A. Campbell, Director of the IRS Return Preparer Office. “It’s easy to let this slip as the holiday season approaches.”

Failure to have and use a valid Preparer Tax Identification Number (PTIN) may result in penalties, so make sure you’re prepared. You must renew before December 31, 2016. The fee is $50, and the process can be completed online. You have the prerogative of using a paper renewal form, but processing time can take 4-6 weeks.

To read more, see the full news release from the IRS.