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 In September, 2009, the Internal Revenue Service (IRS) began rolling out a comprehensive program to regulate the tax preparation industry and ensure that certain standards of professional conduct are met. Starting in 2014, any individual who is paid to prepare federal income tax returns must have a preparer tax identification number (PTIN) issued by the IRS and, unless exempt, must pass a competency exam and suitability check to be considered a Paid Tax Return Preparer (PTRP).
CPAs and other tax professionals (enrolled agents, attorneys) are exempt from the exam and continuing education requirements but must undergo a portion of the suitability check.
The AICPA has participated actively in the development of the regulations to implement this program - intended to elevate compliance for paid preparers - to minimize its impact on members who are already subject to state and federal regulation.
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