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Good News on PTINs: What It Means and What’s Left
Presentor: Derrin Watson Recorded Date: 1/18/2011 Duration: 100 Min.

Description

This program was recorded during a live presentation on January 19, 2011.

The IRS has just released Notice 2011-06, which resolves many of the questions which have been lingering about preparer tax ID numbers (PTINs) and registered tax return preparer status for retirement plan practitioners. Largely, the news is good.

Most importantly, 5500 series forms are exempt from PTIN requirements altogether, as are 1099 series forms. However, Forms 5330, 945, and 990-T are returns and are subject to the rules. Preparers of these returns will need a PTIN. That’s where two new rules which allow individuals to obtain a PTIN without taking examinations will come in handy. The downside, besides the inconvenience and fees involved, is that if you have a PTIN, you are subject to IRS disciplinary actions for disreputable conduct.

Derrin Watson will put it all together for you in a special 100-minute Web seminar on January 18, 2011. While the entire seminar will count for continuing education credit, the seminar will count for 50 minutes (1 hour) of ethics credit for ASPPA and other professional organizations and for ERPA designees.

Topics include:

  • What’s a return under the new rules
  • Who’s a preparer
  • PTINs
    • What they are
    • Requirements to get them
    • Methods to get them
    • Who needs to get them after the new guidance
  • Advantages of ERPA status
  • What remains of the examination requirements
  • Ethical considerations
    • Disreputable conduct
    • Other IRS practice issues
    • Potential sanctions
  • What to do with a PTIN you find you don’t need

Prerequisites: There are no prerequisites or other advanced preparation for this program.

Level: Overview

Instructional Delivery Method: Group – Internet-Based

Speaker
S. Derrin Watson, J.D., APM
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending this seminar, you should be able to:

  1. Determine whether a given tax form is subject to the PTIN rules
  2. Determine if a given preparer needs a PTIN
  3. Apply the preparer definition to real world situations
  4. Determine whether IRS credentialing is needed or helpful
  5. List the various preparer activities subject to IRS sanction

System Requirements:

  • Windows 95, 98, NT 4.0 , 2000, XP
  • Internet Explorer 4.01 or later, Netscape 4.08 or later
  • 56K modem connection or better (128K recommended)
  • Pentium 166+ MHz, 128MB RAM or more
  • 800x600 or higher display resolution
  • Soundcard, Speakers

Recorded Event Time Limitation:
This recorded event will be available for 20 days from your date of registration.

Program related requests, questions, or concerns may be e-mailed to: relius.education@sungard.com.