Is there a way to not have our PTIN to print on the client's returns? For our protection??
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***The client's copy of their returns***
The reason for the PTIN is so that your Social Security number doesn't print on there any more. That is what us old folks remember was in that spot before the PTIN.
I really don't see what the risk is of the PTIN being there. It isn't just income tax returns that it shows on, but also any federal payroll tax returns (940,941,943 etc.)
I think a PTIN is public information. I think you can look them up by person's name on irs.gov somewhere.
And the reason for the SSN was so that IRS could track every return you prepared, and do a "practitioner project" if it found mistakes on too many of them.
Anyone can find a list of a hundred preparers within five miles of my ZIP Code. Then they can rent a storefront and use my identity to prepare returns from January through April 15. They can't find my PTIN, but they can make one up and they'll be gone before IRS notices. Of course, if they want to do e-filing the scam will have to get more complicated. Better just to tell folks it was e-filed, and mail it in. Move on to a different ZIP Code next year.
Protect your PTIN? You might as well try to protect your license plate.
The PTIN protects your SSN which no longer prints on the return. You can insure your PTIN is not being used improperly by going to the IRS PTIN website and checking the number of returns prepared using your PTIN. If there is a problem, you should immediately notify the IRS.
You can assure that you're still alive by checking the obituary pages every day. I've never found the IRS count to be accurate, but I have better things to do every day than check that page. (I do check every day, though, for the skyrocketing Covid infection rate in my state.) By the time you detect a problem, it's too late. If the count is 100 higher than it should be, you might be able to find someone at IRS to do something in a month or two. But if it's higher by only 5, what would you expect? "OK, we'll pull all of your returns and find ones that look flaky." Not sure if the cure is worse than the disease.
You're right Hank... PTIN was said to be a safe alternative to the Social Security number... But hackers and losers found a way to get to that too... Just marvelous isn't it?
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