Licensing Update

While most tax preparers have been busy getting ready for tax season and preparing returns, a few have taken the minimum competency test for their RTRP designation. Unfortunately, they’ll have to wait until early March to find out if they pass or not.

According to Prometic:

A sufficient volume of tests is required to determine a statistically valid passing score. The score setting process was delayed until a sufficient number of tests were administered. We apologize for the delay.

Originally test takers were told that their wait would be 6 – 8 weeks.

The IRS is also reminding preparers that when they do pass the test and can begin to use the RTRP designation that they have a disclaimer which must be included on all paid advertising. “The IRS does not endorse any particular individual tax return preparer. For more information on tax return preparers go to IRS.gov.” However, the IRS does not consider business cards to be paid advertising and tax pros are not required to include the disclaimer on them. Notice 2011-45 gives all preparers all the rules on advertising.

Oh, and since no one has passed the test yet, no one should be using the RTRP designation or any variation of the title.

McIntire Tax Center - on Facebook - on Google+ - or Twitter @ mactax.