The Internal Revenue Service (IRS) has issued a reminder to the approximately 800,000 active tax return preparers about the importance of renewing their Preparer Tax Identification Numbers (PTINs) ahead of the 2024 filing season.
Why PTINs Matter to Small Businesses
A PTIN is an essential requirement for anyone preparing or assisting in the preparation of federal tax returns for compensation. This includes numerous small business tax advisors and financial consultants. If your business involves filing tax returns for clients, it’s vital to be aware that PTINs expire on December 31 of the calendar year for which they’re issued. Therefore, all PTINs obtained for 2023 will expire on December 31, 2023.
