IRS Changes Rules, Bookkeepers to pay $65/yr for PTIN's

More than 20 local CPA's, bookkeepers, programmers, and other QuickBooks consultants got together on Aug 19 for another "QuickBooks Talk and Swap". The bar was loud but the fried pickles were great and the drinks were helpful as we heard about the new IRS regulation requiring bookkeepers who file payroll tax form 941 to pay for PTIN's. Here is a summary, pulled from this IRS page:
http://www.irs.gov/taxpros/article/0,,id=218611,00.html
"All individuals who are compensated for preparing, or assisting in the preparation of, all or substantially all of a federal tax return or claim for refund must obtain a PTIN and, if applicable, successfully pass an examination. The annual fee is $64.25. Mid-September 2010 is the current target date for an on-line registration system and all preparers will need to be registered on the new system and have a Preparer Tax Identification Number (PTIN) prior to filing any return after Dec. 31, 2010. All federal tax return preparers, even those who already have a PTIN, will need to register in the new system ".

Thanks Dennis L. Thompson, CPA, CFE, Advanced QuickBooks Certified ProAdvisor, Sleeter Group Certified QuickBooks Consultant, Certified Fraud Examiner, Method Certified Consultant and all-around nice guy, for making sure we don't end up stuck an unable to file our client's final 2010 payroll tax forms.

We'll get an update on the new system at our the Sept 29th QuickBooks "Talk and Swap". Join us, it's free. Have some fun while grow your QuickBooks consulting practice.