NEW YORK, Aug. 14, 2012 /PRNewswire/ -- PTINdirectory.com is the first online searchable database of over 700,000 federally registered tax preparers. It is expected that tens of thousands of individuals, business owners, agencies, and financial institutions will use PTINdirectory.com over the coming months to verify and find tax preparers authorized by the IRS to prepare tax returns. Tax preparers can be found by IRS sanctioned credentials, industries, and services offered and geographic criteria.
Over the past two years the IRS has been moving to clean up the tax return preparation industry. Last week, Treasury Department investigators indicated that the Internal Revenue Service may have delivered more than $5 billion in refund checks to identity thieves who filed fraudulent tax returns for 2011. Regulation of tax professionals is a huge step in resolving this problem. As of 2011, all tax professionals that prepare tax returns for compensation must obtain a PTIN (preparer tax identification number) and meet minimum continuing education requirements. Prior to implementation of these IRS regulations, tax preparers had not been required to demonstrate a minimum level of knowledge or maintain a license to show their qualifications. Registered Tax Return Preparer (RTRP) is a new category of federal tax return preparers created by the Internal Revenue Service. Starting January 1, 2014, only RTRPs, CPAs, Attorneys and Enrolled Agents will be authorized to prepare and sign federal individual tax returns for payment. With the launch of PTINdirectory.com, now everyone can "check out" their tax professional. Taxpayers that allow non registered tax professionals to prepare their tax returns may be subject to penalties and risk of audit.
PTINdirectory.com was made possible as a direct result of the Freedom of Information Act. Under the Freedom of Information Act the Internal Revenue Service was required to make tax preparer information available to the public. Michael Rosedale CPA understands the concern many tax professionals have about the privacy of their records made available under the FOIA - "For this reason, we encourage PTIN holders to verify and update their FOIA contact information. On PTINdirectory.com all tax professionals have the right to modify, enhance or delete their information in the directory. PTINdirectory.com allows the tax professional to control how much or how little information is available for others to see. We believe that most tax professionals will look at PTINdirectory.com as an opportunity to promote the credentials they have worked so hard to maintain."
About The National Directory of Registered Tax Return Preparers and Professionals Ltd.
The National Directory of Registered Tax Return Preparers and Professionals Ltd is a wholly owned subsidiary of CPAdirectory.com Inc. CPAdirectory.com created the first comprehensive online public directory of the CPA Profession in 1999 with over 450,000 Certified Public Accountants. The Company currently is focused on providing all accounting professionals including CPAs, Enrolled Agents, and RTRPs with marketing tools and resources they need to succeed in this rapidly changing and regulated environment. It developed and retains an equity interest in 1800Accountant.com, owns the CPAclassifieds.com, FreeCPE.com, and introduced this past tax season a free tax resource for the iPhone and iPad called " ASK A CPA – Tax Answers Free." For more information on this free tax resource for your mobile phone go to www.askacpa.pro.
Michael Rosedale, CPA