Preparer Taxpayer Identification Number (PTIN) is the taxpayer identification number used by tax professionals. PTIN Renewal 2024 is open for those who are going to continue to accept compensation for preparing or assisting taxpayers in this tax season.
PTINs must be renewed every year before the tax season starts. The renewal starts every year on October 15 for the following calendar year. Therefore, the renewal applications for the 2024 tax year will begin on October 15, 2023, and expires on December 30, 2023.
Here is how to renew PTIN online and what you need to get started.
Online Renewal
PTINs can be renewed online on the Internal Revenue Service’s Tax Professionals PTIN System. This is free to use an online system that allows tax professionals to renew their PTINs. To get started, you will need to have an existing account created on the system or create an account.
Assuming you have already enrolled in the Tax Professionals PTIN System, there is no need for starting from scratch. But if you need one, here is what you need to know about enrolling in the system.
If you need to renew PTIN, apply for PTIN for the first time, or intend to become a tax preparer, create an account on the system using your personal information. You can set up an account in less than five minutes.
As soon as you’re logged into your account, pay the renewal fee, which is $35.95, and get your PTIN to use in 2024. The renewal process of a PTIN is as simple as that.
Paper Application for PTIN Renewal
You also have the option to renew PTIN through Form W12. This tax form is only used for renewing PTIN. Though making an online application to renew PTIN will take significantly less, you have the option to apply via W12.
Click here to learn more about filing Form W12-IRS Paid Preparer Taxpayer Identification Number Application and Renewal.
Before you get to that, consider renewing PTIN online. When making a renewal application online, you will be able to obtain ITIN in about 10 minutes. This is considerably longer for mailed Forms W12.
On average, it will take a week for your mail to reach the IRS and about two or three days for the agency to process your renewal. Expect to wait at least 10 days for PTIN renewal when a paper application is submitted. Regardless, you can apply for PTIN renewal with Form W12.
PTIN Renewal Requirements
Annual Renewal
- Frequency: Tax professionals must renew their PTIN annually.
- Deadline: The renewal period typically opens in 2023 and closes on December 31st of 2024.
Eligibility
- Who Needs to Renew: All tax return preparers who assist in preparing federal tax returns for compensation must renew their PTIN.
- Inactive Preparers: Even if you didn’t prepare any returns in the previous year, you may still need to renew.
PTIN Renewal Process
Online Renewal
- Convenience: The most common way to renew your PTIN is through the IRS online system.
- Fees: A renewal fee is required, which may vary from year to year.
Paper Application
- Alternative Method: In some cases, a paper application (Form W-12) can be submitted.
- Additional Time: Renewing by paper may take longer to process.
Changes in PTIN Renewal for 2024
2024 Updates
- Fee Changes: The IRS may adjust the renewal fee for 2024.
- Security Enhancements: New security measures may be implemented to protect taxpayer information.
- Continuing Education: There might be changes in continuing education requirements.
Online vs. Paper Renewal
| Renewal Method | Pros | Cons |
|---|---|---|
| Online | Quick and convenient | Requires internet access |
| Paper | Available as an alternative | Slower processing time |
PTIN Renewal vs. Initial PTIN Application: A Comparison
| Aspect | PTIN Renewal | Initial PTIN Application |
|---|---|---|
| Frequency | Annually | One-time |
| Eligibility | Existing PTIN Holders | New Applicants |
| Fee | Varies | Standard Fee |
| Requirements | Continuing Education | Basic Tax Compliance Knowledge |
| Documentation | Proof of CE Credits | Personal Information and SSN |
| Processing Time | Typically Faster | May Take Longer |
Comparing PTIN Renewal Requirements for 2024 and 2023
Below is a comparison of the PTIN renewal requirements for 2024 and 2023:
| Aspect | 2024 Renewal Requirements | 2023 Renewal Requirements |
|---|---|---|
| Renewal Deadline | By December 31 | By December 31 |
| Who Needs to Renew | All PTIN holders | All PTIN holders |
| Application Process | Online or Paper | Online or Paper |
| Renewal Fee | $35 | $35 |
| CPE Requirements | 15 hours of CPE | 15 hours of CPE |
| Criminal Background Check | Not Required | Not Required |
| Exam Requirement for New PTINs | Not Required | Not Required |
| PTIN Expiration Date | December 31 | December 31 |
What are the PTIN renewal requirements for 2024?
- The PTIN renewal deadline for 2024 is December 31.
- All PTIN holders are required to renew their PTIN for 2024.
- Renewal can be done online or through a paper application.
- The renewal fee for 2024 is $35.
- PTIN holders need to complete 15 hours of Continuing Professional Education (CPE) for 2024.
- A criminal background check is not required for 2024 PTIN renewal.
- There is no exam requirement for new PTIN applicants for 2024.
- The PTIN issued after renewal will be valid until December 31 of the same year.
What are the PTIN renewal requirements for 2023?
- The PTIN renewal deadline for 2023 is also December 31.
- Just like 2024, all PTIN holders must renew their PTIN for 2023.
- Renewal can be completed online or through a paper application for 2023.
- The renewal fee for 2023 remains at $35.
- Continuing Professional Education (CPE) requirements for 2023 are the same, with 15 hours of CPE needed.
- Similar to 2024, a criminal background check is not a requirement for 2023 PTIN renewal.
- New PTIN applicants for 2023 are not required to pass an exam.
- PTINs renewed for 2023 will be valid until December 31 of that year.