The IRS announced today that as part of the new PTIN procedure the IRS will temporarily stop issuing new PTINs on Monday, August 23rd. No big deal, right? After all, in a month or two you will be able to apply for a PTIN.
For most individuals, that’s the case. However, if you’re going to take the Special Enrollment Examination (SEE)–the test to become an Enrolled Agent–you need a PTIN. Let’s say you were unaware of this, and you haven’t applied for a PTIN. Let’s further assume next Tuesday you are ready to take Part 1 of the exam, and the testing company tells you of this requirement. Well, if you don’t have a PTIN, you can’t take the exam. Prometrics, the company that administers the exam, can’t issue PTINs. You’re stuck until the IRS resumes issuing PTINs. Given that there is some opposition to the new PTIN regulations (the AICPA has complained about them), it’s possible that it could be November before you can obtain the PTIN. That’s a nice Catch-22.
I strongly recommend anyone who is planning on taking the SEE to apply for a PTIN today. Go online to the IRS’ website and download Form W-7P. Print it out and fax it to the number noted on the application. You’ll receive your PTIN in the mail in a couple of weeks. This is a case where it’s far better to be safe than sorry.
Tags: PreparerRegistration, PTINs