IRS opens PTIN renewal period for 2024

By   Michael Cohn
October 24, 2023

The Internal Revenue Service began allowing nearly 800,000 tax preparers to renew their Preparer Tax Identification Numbers for next year on Tuesday.

The PTIN renewal fee has been drastically reduced for 2024 after a long-running lawsuit (see story). The fee to renew or obtain a PTIN for 2024 is $19.75, down from $30.75 for 2023. The fee is set at $11 per application or renewal, plus an $8.75 fee payable to a third-party contractor. The PTIN fee is nonrefundable. 

Any paid preparer who fails to have and use a valid PTIN can face penalties. Anyone who prepares or helps prepare a federal tax return or a claim for refund for compensation must have a valid PTIN from the IRS. They also need to include the PTIN as their identifying number on any return or claim for refund filed with the IRS.

PTINs expire on December 31 of the calendar year for which they are issued. All 2023 PTINs will expire on Dec. 31, 2023.

Paid tax return preparers with a PTIN that expires on Dec. 31, 2023, need to use an online renewal process, which takes about 15 minutes. Start at IRS.gov/taxpros, choose the "Renew or Register" button, pick "Log in" and enter the user ID and password to access the online PTIN system, and choose the "Renew my PTIN" button from the main menu. Once the process is completed, users will receive confirmation of their PTIN renewal.

A paper option is also available for PTIN applications and renewals, Form W-12, "IRS Paid Preparer Tax Identification Number (PTIN) Application and Renewal," but it can take about six weeks to process.