Federal tax return preparers in CT must renew ID number with IRS

Federal tax return preparers in Connecticut must renew their Preparer Tax Identification Numbers (PTINs) for 2014 before the end of this year. All current PTINs will expire on Dec. 31, 2013.

There are more than 8,000 federal tax return preparers in Connecticut and almost 690,000 nationwide, according to the Internal Revenue Service (IRS).

Anyone who, for compensation, prepares or helps prepare any federal return or claim for refund must have a valid PTIN from the IRS. The PTIN must be used as the identifying number on returns prepared.

“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.

Process can be done online

For those who already have a 2013 PTIN, the renewal process can be completed online and only takes a few moments. The renewal fee is $63. If a preparer can’t remember their user ID and password, there are online tools to assist them.

Preparers could go to www.irs.gov/ptin to complete the process.

For anyone registering for the first time, the PTIN application fee is $64.25 and the process also may be completed online.

Failure to have and use a valid PTIN may result in penalties. All enrolled agents, regardless of whether they prepare returns, must have a PTIN in order to maintain their status.