A course designed to teach students the intricacies of evaluating and ensuring the accuracy and compliance of tax returns.
Address
FITI: 7265 NW 25th ST. Miami FL, 33122 View mapCategories
Preperation for Certifications$625.
Preparation, PTIN Application Fee & Classroom Material
Objective
The preparation lasts 8 sessions. Two weeks Monday Thru Friday or 7 sessions on Saturday’s. The PTIN application process and fee is included included in preparation.
What is a Tax Preparer?
Tax preparation is the process of preparing tax returns, often income tax returns, often for a person other than the taxpayer, and generally for compensation.
Common Questions about PTIN & IRS.
Do I need a PTIN Number to prepare taxes?
Anyone who prepares or assists in preparing federal tax returns for compensation must have a valid 2021 PTIN before preparing returns. All enrolled agents must also have a valid PTIN.
How much does a Tax Preparer earn yearly?
According to the U.S. Bureau of Labor Statistics, or BLS, tax preparers earned an average salary of $52,710 per year as of May 2020.
Once I obtain my PTIN do I need to Renewal it?
Answer: Yes,
The annual renewal of PTINs ensures the IRS has up-to-date identifying information about each return preparer, which is essential for timely communication of important information. The program helps protect both return preparers and taxpayers and prevent the unauthorized use of PTINs.
Must be renewed before December 31st.
***** NEW Annual Filing Season Program
The Annual Filing Season Program aims to recognize the efforts of non-credentialed return preparers who aspire to a higher level of professionalism. Those who choose to participate can meet the requirements by obtaining 18 hours of continuing education, including a six hour federal tax law refresher course with test. The return preparer must also renew their preparer tax identification number (PTIN) for the upcoming year and consent to adhere to the obligations in Circular 230, Subpart B and section 10.51.
Do I need accounting experience to do this preparation class?
Answer: No,
Accounting experience is not required to take these preparation sessions. Review will cover all topics required by the IRS to demonstrate how to correctly prepare a individual tax return.
Benefits of becoming a Tax preparer
- Savings on Your Own Taxes
- High Income Potential
- Flexibility
- Portability
- High Demand for Tax Professionals
Preparation Topics & Modules
Part I
- Payroll Taxes and Federal Income Tax Withholding
- Wage and Tip Income
- Interest Income
- Dependents
- Filling Status
- Exemptions
- Standard Deduction
- Claiming Child Tax Credit and Additional Child Tax Credit
Preparation Topics & Modules
Part II
- Tax Credit for Child and Dependent Care Expenses
- Education Credits
- Earned Income Credits
- Electronic Tax Return Preparation and Transmission
- Refund, Amount Due, and Recordkeeping
- Self-Employment Income and the Self-Employment Tax
