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IRS Urges New Jersey Tax Preparers to Take Competency Test Now

The Internal Revenue Service today urged more than 8,700 New Jersey tax return preparers to immediately schedule their competency test or risk difficulty finding a date, time or location as the exam deadline nears next year.  For most of these, the appropriate test will be the Registered Tax Return Preparer competency test.

The Registered Tax Return Preparer test has been available since November 2011. Nationwide, more than 310,000 tax return preparers still need to pass the test before December 31, 2013. Tax professionals who are Enrolled Agents, Certified Public Accountants, and attorneys are exempt from the test, as are certain non-signing preparers and those who do not prepare the Form 1040 series.

The RTRP test is being administered by Prometric, Inc., which has 260 testing sites nationwide. However, if too many preparers delay, available seats will be scarce.

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 To learn more about the test or to begin the scheduling process, preparers should go to www.irs.gov/taxpros/tests.  

The test is one phase of a multi-year effort by the IRS to increase oversight of the tax professional industry and help ensure minimal competency levels among those who are paid tax return preparers. More than 60 percent of taxpayers use a tax preparer. Under the new rules, all professional tax return preparers must register with the IRS, obtain a Preparer Tax Identification Number (PTIN), and adhere to ethical standards.

Certain preparers must also pass the new test and complete 15 hours of continuing education each year. For these preparers the IRS created a new credential: Registered Tax Return Preparer. Starting January 1, 2014, only Registered Tax Return Preparers, Enrolled Agents, CPAs and attorneys will be authorized to prepare and sign individual tax returns.

Next year, the IRS will launch a public listing for taxpayers and others to confirm preparers with professional credentials and valid PTINs.

The test is a 2 ½ hour, timed exam. It must be taken at a Prometric site for control purposes. There are 120 questions which cover Form 1040 tax preparation issues, individual tax law issues and ethics. Preparers must pay $116 fee for the exam. CPAs, EAs and attorneys already must pass tests for their credentials. 

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Livingston

$100 OFF per Week for Summer Camp Now!

July 12, 2018

Guerrero Marital Arts is now offering an 8-week summer camp for summer 2018!

Pick which weeks you want!

Camp Weeks are:

July 16, July 23, July 30, August 6, August 13, August 20, August 27

Includes the following:

Fitness
Fun (through Sports, Play and Games)
Field Trips (may cost extra)
Life Lessons
Reading Time
Martial Arts
A great place to ...

20% Off Purchases at Livingston Pharmacy

LIVINGSTON, NJ - Livingston Pharmacy & Surgical Supplies is offering 20 percent off your entire entire purchase, EXCLUDING prescription co-pays, if you just mention TAPinto Livingston OR display a TAPinto Livingston logo or display the website on your phone or device.

Livingston Pharmacy & Surgical Supplies, located at 91 E. Mount Pleasant Ave. has established itself as a retail ...

Upcoming Events

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Tue, July 17, 5:00 PM

Caldwell University Alumni Theater, Caldwell

Public Invited to Essex County Opioid Use ...

Health & Wellness

Tue, July 17, 7:00 PM

Livingston Public Library, Livingston

Organically Yours: a wellness experience with ...

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Sat, July 21, 12:30 PM

CycleBar Livingston, Livingston

Bike for the Bean

Giving Back Health & Wellness

Newark Lures Amazon With $1 Billion Payroll Tax Incentive

July 14, 2018

NEWARK, NJ - Amazon will get a payroll tax break at a cost of $1 billion to the city should the company open its second headquarters in Newark, according to one of two ordinances approved by the Newark City Council council to sweeten the deal for the corporate giant and stand out among other locations vying for Amazon’s so-called HQ2.

“The City Council has brought Newark a ...

Public Invited to Essex County Opioid Use Prevention Task Force Meeting

July 15, 2018

CALDWELL, NJ — All Essex County residents, mayors and councils, law enforcement members, school officials, clergy members, civic organizations and more are invited to join in the next Essex County Opioid Use Prevention Task Force meeting on Tuesday at 5:30 p.m. to discuss how the Essex County communities can join work together to eradicate this epidemic.

The meeting will be held at the ...

Extra Time

It was close to 70 minutes into the match and I had to go to the bathroom.  Badly.

As fans watching the World Cup know too well, bathroom breaks are a serious dilemma, especially for those who don’t have a TV in the loo.  This biological necessity is exasperated by beer, which during World Cup matches also fuels a strong propensity to throw chairs and instigate riots.

5 Simple Ways to Save Water this Summer

According to the L.A. Times, the average American uses an estimated 98 gallons of water EACH day.  

Here are five simple ways you can save water, to help you conserve water this summer and take some pressure off of your drains.

1. Unless you are using it, turn the faucet off. How many of us still leave the water running while we shave or brush our teeth?According to ...