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Tax Accountant in Miami Exempt from IRS New Continuing Education Requirements

Tax Accountant in Miami Exempt from IRS New Continuing Education Requirements

The Internal Revenue Service today reminded certain NON Tax Accountant in Miami that they must complete 15 hours of continuing education (CE) annually beginning in 2012 and the programs must be taken from IRS-approved providers. Tax Accountant in Miami CPA’s are exempt, other preparers can now find a list of IRS-approved providers on the agency’s web site.

The new CE requirement is part of an IRS return preparer oversight effort and applies to the same individuals who are required to pass a new Registered Tax Return Preparer competency test.

Tax Accountant Miami

Certified public accountants, Tax Accountant in Miami, attorneys and enrolled agents are exempt from this 15-hour CE requirement and test requirement because they already meet separate requirements. Non-signing Tax Accountant in Miami supervised by CPAs, Tax Accountant in Miami, attorneys or enrolled agents in law, accounting and recognized Tax Accountant in Miami firms (see Notice 2011-6) also are exempt from the continuing education and test requirements, as are Tax Accountant in Miami who do not prepare any Form 1040 series returns.

The 15 hours of continuing education must include 10 hours of federal tax law, three hours of federal tax law updates and two hours of ethics each calendar year. Tax Accountants Miami have already been issued a PTIN, other preparers must provide their Preparer Tax Identification Numbers to the CE providers so their continuing education can be properly reported to the IRS.

Completion of the CE requirement for these preparers is a condition for the annual renewal of the PTIN, which is required to prepare federal tax returns. The requirement is prorated for preparers who obtain a PTIN during the year.

All individuals with an IRS continuing education requirement, including enrolled agents and enrolled retirement plan agents, can access a listing of IRS Approved Providers at www.IRS.gov/taxpros/ce. The list is updated regularly. For CPA’s or Tax Accountant in Miami you can visit http://www.myfloridalicense.com/dbpr/cpa/.

Tax Accountant in Miami IRS Approved Providers

To date, 163 providers have applied and been approved through the new provider application process launched in December 2011 (see IR-2011-115). Providers must be one of the following:

•             An accredited educational institution,

•             Recognized for continuing education purposes by the licensing body of any state or U.S. territory,

•             Approved by an IRS Accrediting Organization [at this time, the National Association of State Boards of Accountancy (NASBA) is the only IRS Accrediting Organization] as a provider of CE to registered tax return preparers, enrolled agents and enrolled retirement plan agents, or

•             Any other professional organization, society or business recognized by the IRS as a provider of CE to registered Tax Accountant in Miami, enrolled agents and enrolled retirement plan agents.

Accredited educational institutions must now register for their programs to qualify for IRS CE credit. Previously, enrolled agents and enrolled retirement plan agents could obtain IRS CE credit for completing qualified continuing education at an accredited educational institution even if the educational institution did not register with the IRS.

Instructions for individuals and organizations interested in becoming an IRS approved CE provider or IRS Accrediting Organization are available on the IRS Continuing Education Providers page.

About 

Gustavo A Viera is the managing partner of Gustavo A Viera, PA. His experience spans more than 25 years. He started his career in public accounting at PriceWaterHouseCoopers where reached the level senior audit manager. His Fortune 500 experience includes positions as CFO – Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at One Alhambra Plaza Floor PH Coral Gables FL 33134, and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 786-250-4450.

About the Author

Gustavo VieraGustavo A Viera is the managing partner of Gustavo A Viera, PA. His experience spans more than 25 years. He started his career in public accounting at PriceWaterHouseCoopers where reached the level senior audit manager. His Fortune 500 experience includes positions as CFO - Latin America Region for both Hewlett Packard and Telefonica of Spain. Gustavo also writes a blog twice a week that addresses trending accounting and tax issues. He is an SBA Advisor and teaches workshops for aspiring entrepreneurs. His office is located at One Alhambra Plaza Floor PH Coral Gables FL 33134, and is admitted to practice in the State of Florida as a licensed Certified Public Accountant. Gus welcomes questions and he can be reached at 786-250-4450.View all posts by Gustavo Viera →

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