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IRS issues proposed rules (REG-139343-08) establishing a new annual $50 user fee for individuals who apply for or renew a preparer tax identification number. The much-anticipated guidance is the first step in setting up a regime of registration with IRS that will in essence create a new profession of government-sanctioned tax preparers, IRS officials have said in recent forums. IRS is anticipating that the number of individuals requesting PTINs will increase to as many as 1.2 million under the new registration program, and all individuals who receive PTINs will be required to renew their PTINs, the guidance says.
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