BusinessPostCorner.com
No Result
View All Result
Tuesday, July 15, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

IRS slashes PTIN fees | Accounting Today

October 4, 2023
in Accounting
Reading Time: 3 mins read
A A
0
IRS slashes PTIN fees | Accounting Today
ShareShareShareShareShare

The Internal Revenue Service is reducing the annual cost of a Preparer Tax Identification Number after a court ruled that the charge was too high.

The application and renewal fee will be reduced to $11, plus an extra $8.75 for payment to a third-party contractor, the IRS said in interim final regulations. That’s considerably lower than the 2023 fee of $30.75 for renewing or obtaining a PTIN. The move comes after a federal district court ruled earlier this year in the case of Steele v. United States that the IRS was charging excessive PTIN fees from fiscal years 2011 to 2017. 

The total cost to the IRS for the PTIN program for fiscal years 2024 through 2026 is projected to be $27,432,969, and dividing the total cost by the projected population of users for those fiscal years results in a cost per application of $10.79, or about $11. In addition, the costs related to a third-party contractor’s activities for issuance, renewal and maintenance of PTINs, such as processing applications and operating a call center, are included in the PTIN user fee calculation, in accordance with Steele, and will be set at $8.75 per application or application for renewal, in addition to the amount charged by the government. That amount may go up, though.

The IRS headquarters building in Washington, D.C.

Andrew Harrer/Bloomberg

“The third-party contractor was chosen through a competitive bidding process,” said the IRS. “The amount of the third-party contractor portion may change in 2026 when the contract expires and will be re-computed.”

The PTIN fee lawsuit has been a long-running court case dating back to at least 2012 and gained class-action status in 2016 (see story). A district court ruled against the IRS back in 2017 and the IRS temporarily suspended its PTIN system, but the case has been dragging on until it was finally decided in February of this year.

Credit: Source link

ShareTweetSendPinShare
Previous Post

US to incentivise companies to report misdeeds at businesses they buy

Next Post

Sam Bankman-Fried Changed the Rules for FTX Employees When SRM Token Shot Up in Value – Here’s What Happened

Next Post
Sam Bankman-Fried Changed the Rules for FTX Employees When SRM Token Shot Up in Value – Here’s What Happened

Sam Bankman-Fried Changed the Rules for FTX Employees When SRM Token Shot Up in Value – Here's What Happened

Congress passes bill backed by AICPA offering tax filing relief after natural disasters

Congress passes bill backed by AICPA offering tax filing relief after natural disasters

July 11, 2025
Animoca Brands Partners with DayDayCook to Manage 0M Bitcoin Treasury

Animoca Brands Partners with DayDayCook to Manage $100M Bitcoin Treasury

July 13, 2025
Trump’s tax bill offers planning opportunities for clients

Trump’s tax bill offers planning opportunities for clients

July 10, 2025
Aviation authority says fuel switches are safe

Aviation authority says fuel switches are safe

July 14, 2025
How Recognition Data Uncovers Skills and Unleashes Potential

How Recognition Data Uncovers Skills and Unleashes Potential

July 8, 2025
US demands to know what allies would do in event of war over Taiwan

US demands to know what allies would do in event of war over Taiwan

July 12, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

LA Sheriff’s Deputies Used Badges to Help Crypto ‘Godfather’ Extort Victims

LA Sheriff’s Deputies Used Badges to Help Crypto ‘Godfather’ Extort Victims

July 15, 2025
Donald Trump asked Volodymyr Zelenskyy if Ukraine could hit Moscow, say people briefed on call

Donald Trump asked Volodymyr Zelenskyy if Ukraine could hit Moscow, say people briefed on call

July 15, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!