The AFTR course is required for non-exempt tax return preparers who wish to participate in the Annual Filing Season Program. Along with the AFTR, non-exempt preparers must complete 2 hours of Ethics and 10 hours of Federal Tax Law courses to earn the AFSP Record of Completion.
a six (6) hour Annual Federal Tax Refresher (AFTR) course that covers filing season issues and tax law updates, as well as a knowledge-based comprehension test administered at the end of the course by the CE Provider; ten (10) hours of other federal tax law topics; and. two (2) hours of ethics.
Anyone who passed the RTRP test administered by the IRS from November 2011 to January 2013. The IRS has a record of this. NOTE: Tax preparers registered in New York are not classified as Exempt from the AFTR, and will need the 18 hours required for non-exempt preparers to obtain the AFSP Record of Completion.
How to become a registered tax preparerTake a 60-hour qualifying education course from a CTEC approved provider within the past 18 months.Purchase a $5,000 tax preparer bond from an insurance/surety agent.Get a Preparer Tax Identification Number (PTIN) from the IRS.Approved Lives Scan.More items...
In general, to obtain an Annual Filing Season Program – Record of Completion a return preparer must obtain 18 hours of continuing education from an IRS-approved CE Provider. The hours must include a 6 credit hour Annual Federal Tax Refresher course (AFTR) that covers filing season issues and tax law updates.
These preparers still need to complete 15 hours of approved continuing education to qualify for the program. The following preparers are exempt from the AFTR requirement: Former IRS Registered Tax Return Preparers (RTRP) who passed the in-person RTRP exam administered by the IRS between November 2011 and January 2013.
Exempt preparers are California certified public accountants (CPAs), enrolled agents (EAs), and attorneys who are members of the State Bar of California. As of January 1, 2005, the California Franchise Tax Board (FTB) has the authority to identify and penalize unregistered tax preparers.
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.
Exemption From Withholding If an employee qualifies, he or she can also use Form W-4 to tell you not to deduct any federal income tax from his or her wages. To qualify for this exempt status, the employee must have had no tax liability for the previous year and must expect to have no tax liability for the current year.
Sixteen months of Induction Training is conducted for the directly recruited officers of IRS(IT) at NADT each year. The training is designed into two modules to enable the Officer Trainees to acquire the knowledge and skills they need to function effectively and efficiently as tax administrators.
Courses in Taxation A B.Com degree is mandatory to take admission in the two-year M.Com course. Students who do LLB or LLM can also specialise in Taxation Laws and join the field. Bachelor of Management Studies (BMS) or an MBA degree with specialization in Finance may also give you an edge in the field.
Accountants that specialize in the laws, rules, and regulations for the preparation and calculation of federal, state, and local taxes are typically known as tax accountants. Tax accountants provide a range of tax-related services to both individuals and businesses, which can include preparing and filing tax returns.
American Federal Tax Reports, 2nd=A.F.T.R.2d (RIA)
Format & Structure of the AFSP The AFTR test includes 100 multiple-choice questions with four potential answers. However, you must select the best answer. But the providers generously allow a maximum of 3 hours to complete the exam.