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Thursday, June 14, 2012

IRS Update: Who is a Supervised Preparer?

How is a supervised preparer different from a registered tax return preparer?

A supervised preparer:
  • Must obtain a PTIN
  • Does not have to pass the competency test
  • Does not have to meet the yearly continuing education requirements
Who is considered to be a Supervised Preparer?

Under IRS Notice 2011-6 a Supervised Preparer is an individual who is:
  • Employed by an attorney or CPA firm; or
  • Employed by other recognized firms that are at least 80% owned by attorneys, CPAs or enrolled agents.
  • Click here to read more
Click here to read the entire CrossLink Tax Update that includes further information on how a Supervised Preparer is different from a Registered Tax Return Preparer.

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