Comments for RedGearTech Blog http://blog.redgeartech.com The Official RedGearTech Blog Mon, 23 Jan 2012 20:43:08 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by admin http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12383 admin Mon, 23 Jan 2012 20:43:08 +0000 http://blog.taxworks.com/?p=719#comment-12383 Hi Everyone, Regarding the question from "Jean Robert Saint Louis", the link below will take you to an IRS page titled RTRP Competency Test Information. This will answer questions on the test requirements, scheduling a test date, etc. http://www.irs.gov/taxpros/article/0,,id=248902,00.html The main IRS PTIN renewal page has links in the right column that should answer 99% of your questions. http://www.irs.gov/taxpros/article/0,,id=210909,00.html Hope this helps. Alex RedGear Technologies Hi Everyone,

Regarding the question from “Jean Robert Saint Louis”, the link below will take you to an IRS page titled RTRP Competency Test Information. This will answer questions on the test requirements, scheduling a test date, etc.

http://www.irs.gov/taxpros/article/0,,id=248902,00.html

The main IRS PTIN renewal page has links in the right column that should answer 99% of your questions.

http://www.irs.gov/taxpros/article/0,,id=210909,00.html

Hope this helps.

Alex
RedGear Technologies

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by PAUL KRETTLER, ROSWELL, GA http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12382 PAUL KRETTLER, ROSWELL, GA Mon, 23 Jan 2012 13:40:58 +0000 http://blog.taxworks.com/?p=719#comment-12382 My wife and I have been engaged in a mom an pop tax business for over 20 years. Do 100 +/- returns per year. We too were upset about the new rules. Doing tax returns with the currently available software makes you dumb. Since the rules were announced we have enrolled in two study courses and have been studying rules and regs every day. Even if you do taxes every day, you will be surprised at how much you do not know. People with the correct attitude will become RTRPs and the public will be better off, and those of us who stay will be too. My wife and I have been engaged in a mom an pop tax business for over 20 years. Do 100 +/- returns per year. We too were upset about the new rules. Doing tax returns with the currently available software makes you dumb. Since the rules were announced we have enrolled in two study courses and have been studying rules and regs every day. Even if you do taxes every day, you will be surprised at how much you do not know. People with the correct attitude will become RTRPs and the public will be better off, and those of us who stay will be too.

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by JEAN ROBERT SAINT LOUIS http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12381 JEAN ROBERT SAINT LOUIS Mon, 23 Jan 2012 02:03:12 +0000 http://blog.taxworks.com/?p=719#comment-12381 When I will be able to take the test. To have the training and pass the test. Please send me the information. Thank you Sincerely, Jean R. Saint Louis When I will be able to take the test. To have the training and pass the test.
Please send me the information.
Thank you
Sincerely,
Jean R. Saint Louis

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by Jane Johnson http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12380 Jane Johnson Sun, 22 Jan 2012 15:52:46 +0000 http://blog.taxworks.com/?p=719#comment-12380 I appreciate reading the additional comments since I added mine a few days ago. The new IRS preparer requirements have little to do with knowledge of the tax code,expertise or competence. Rather,the IRS simply seeks control over who can be receive pay for doing tax returns. These requirements erect new barriers to entry into the tax-prep industry, which heretofore has been open and competitive. It appears that the IRS prefers that only CPAs, attorneys, and EAs do tax returns, which the IRS euphemistically phrases as meeting a "suitability check". The IRS seeks taxpayer assistance to enforce the new requirements, with a new form 14157, "Complaint: Tax Return Preparer." IRS has also announced that it will query certain taxpayers whose unsigned returns are complex and appear to have been prepared by "ghost preparers"--unregistered ones who work below the IRS radar screen. These measures sounds so gestapo-like. I appreciate reading the additional comments since I added mine a few days ago. The new IRS preparer requirements have little to do with knowledge of the tax code,expertise or competence. Rather,the IRS simply seeks control over who can be receive pay for doing tax returns. These requirements erect new barriers to entry into the tax-prep industry, which heretofore has been open and competitive. It appears that the IRS prefers that only CPAs, attorneys, and EAs do tax returns, which the IRS euphemistically phrases as meeting a “suitability check”. The IRS seeks taxpayer assistance to enforce the new requirements, with a new form 14157, “Complaint: Tax Return Preparer.” IRS has also announced that it will query certain taxpayers whose unsigned returns are complex and appear to have been prepared by “ghost preparers”–unregistered ones who work below the IRS radar screen. These measures sounds so gestapo-like.

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by Rose http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12379 Rose Sat, 21 Jan 2012 21:40:38 +0000 http://blog.taxworks.com/?p=719#comment-12379 I think IRS wants the experienced preparers out because we're the ones who know how to save the client some money through dedications that others don't know about or don't use because it's time consuming to fool with and you can't charge accordingly. If they get rid of experience the tax payer looses out. Sad day when the government tells you how to do your job and what you can charge for it. Wonder if the taxpayer will have to take a test to do his own return. Sad Day indeed. I'm ready to hang it up too. I use to enjoy my job but not anymore. I think IRS wants the experienced preparers out because we’re the ones who know how to save the client some money through dedications that others don’t know about or don’t use because it’s time consuming to fool with and you can’t charge accordingly. If they get rid of experience the tax payer looses out. Sad day when the government tells you how to do your job and what you can charge for it. Wonder if the taxpayer will have to take a test to do his own return. Sad Day indeed. I’m ready to hang it up too. I use to enjoy my job but not anymore.

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by Deanna http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12378 Deanna Sat, 21 Jan 2012 21:00:19 +0000 http://blog.taxworks.com/?p=719#comment-12378 I would just like to say I don't understand why I have to take a test, CPA's and Attorneys don't have to take, are they consider smarter than me, I don't know how the IRS could know that. I have a client, who has a business and has used a CPA for serveral years, he takes care of her payroll as well as her bookkeeping, and for all of 2011 he had her to withhold and deposit 6.2% for social security for the employee as well as the employer, which means, she owes her employees money back, because she withheld to much. I caught that right off, He don't have to a test, but I do. I think this is just a way for the goverment to make money off of us. I would just like to say I don’t understand why I have to take a test, CPA’s and Attorneys don’t have to take, are they consider smarter than me, I don’t know how the IRS could know that. I have a client, who has a business and has used a CPA for serveral years, he takes care of her payroll as well as her bookkeeping, and for all of 2011 he had her to withhold and deposit 6.2% for social security for the employee as well as the employer, which means, she owes her employees money back, because she withheld to much. I caught that right off, He don’t have to a test, but I do. I think this is just a way for the goverment to make money off of us.

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by John C McGuire http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12377 John C McGuire Sat, 21 Jan 2012 20:50:55 +0000 http://blog.taxworks.com/?p=719#comment-12377 I, too, have over 25 years in private tax practice. I attend in excess of 24 hours of annual CPE. I have reduced my client number to under 50 and will, if these onerous laws take effect as now written, leave the practice of tax preparation at the close of the 2011 TY. I, too, have over 25 years in private tax practice. I attend in excess of 24 hours of annual CPE. I have reduced my client number to under 50 and will, if these onerous laws take effect as now written, leave the practice of tax preparation at the close of the 2011 TY.

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by Colleen http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12376 Colleen Sat, 21 Jan 2012 20:05:13 +0000 http://blog.taxworks.com/?p=719#comment-12376 I am like Allen who has prepared taxes for a number of years. I have about 50 clients and in my 25 years fo preparing taxes I have had two federal returns come back to me because of an error on my part. I will be retiring after this year. The cost is not worth what I receive in income. I am like Allen who has prepared taxes for a number of years. I have about 50 clients and in my 25 years fo preparing taxes I have had two federal returns come back to me because of an error on my part. I will be retiring after this year. The cost is not worth what I receive in income.

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by ANA http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12375 ANA Sat, 21 Jan 2012 16:50:10 +0000 http://blog.taxworks.com/?p=719#comment-12375 I AM TRYING TO BECOME AN ENROLLED AGENT I ALREADY PASS THE INDIVDUAL PART OF THE ENROLLED AGENT EXAM TEST I DO NOT UNDERSTAN WHY I SHOULD PASS THE SAME TEST AGAIN WHEN I HAVE THE APPROVAL FROM PROMETIC THE I PASS CAN ANY BODY INFORM ME ABOUT THIS THANKS I AM TRYING TO BECOME AN ENROLLED AGENT I ALREADY PASS THE INDIVDUAL PART OF THE ENROLLED AGENT EXAM TEST I DO NOT UNDERSTAN WHY I SHOULD PASS THE SAME TEST AGAIN WHEN I HAVE THE APPROVAL FROM PROMETIC THE I PASS CAN ANY BODY INFORM ME ABOUT THIS

THANKS

]]> Comment on Registered Tax Return Preparer (RTRP) Exam Preparation by Jane Johnson http://blog.redgeartech.com/registered-tax-return-preparer-rtrp-exam-preparation/comment-page-1/#comment-12374 Jane Johnson Sat, 21 Jan 2012 01:49:47 +0000 http://blog.taxworks.com/?p=719#comment-12374 I am an H&R Block tax preparer with 11 years experience. Contrary to popular opinion, we actually do some complex returns at Block. Many of my clients have passive loss limits, rental income, sales of business assets, etc. I myself do only 1040s, but some Block offices do 1065s and 1120s as well. Block requires annually 24 CPE credits of everyone. But I digress... I, too, will probably decide to "retire" from the tax industry after 2013. Based on sample questions I've seen, the RTRP test will require memorizing great amounts of information, whereas we rely on software for many of the determinations that we make when doing tax returns--dependent qualifications, filing requirements, other items too numerous to mention. It will be open-book, but looking up all of these details will be time-consuming. A test-taker has 2.5 hrs for 120 questions, which is barely over 1 minute per question. I don't agree that an experienced preparer "should be able to burn through the exam", as Jake says. My sense is that many current preparers may leave the industry, which will tend to raise tax prep fees, which in turn will force many taxpayers to prepare their own returns either manually or with retail software. It's unclear to me if it is perhaps the IRS's intent to reduce the number of paid preparers below the current 700,000+, but it will almost certainly be a consequence of this new testing requirement. I am an H&R Block tax preparer with 11 years experience. Contrary to popular opinion, we actually do some complex returns at Block. Many of my clients have passive loss limits, rental income, sales of business assets, etc. I myself do only 1040s, but some Block offices do 1065s and 1120s as well. Block requires annually 24 CPE credits of everyone. But I digress…
I, too, will probably decide to “retire” from the tax industry after 2013. Based on sample questions I’ve seen, the RTRP test will require memorizing great amounts of information, whereas we rely on software for many of the determinations that we make when doing tax returns–dependent qualifications, filing requirements, other items too numerous to mention. It will be open-book, but looking up all of these details will be time-consuming. A test-taker has 2.5 hrs for 120 questions, which is barely over 1 minute per question. I don’t agree that an experienced preparer “should be able to burn through the exam”, as Jake says. My sense is that many current preparers may leave the industry, which will tend to raise tax prep fees, which in turn will force many taxpayers to prepare their own returns either manually or with retail software. It’s unclear to me if it is perhaps the IRS’s intent to reduce the number of paid preparers below the current 700,000+, but it will almost certainly be a consequence of this new testing requirement.

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