From Your Education Committee

Current education requirements

( 1) EA Renewal: 72 hrs per 3 year cycle (16 hrs minimum per yr) + 2 hrs of Ethics every year. All CPE for EA must be on Federal taxation with qualified instructors/speakers.
(2)  NAEA Renewal: 30 hrs per yr + 2 hrs of Ethics. CPE for NAEA includes Federal taxation, practice mgmt, payroll, state updates, etc.
(3)  ABA Renewal: 120 hrs per 3 yr cycle (4hrs of the 120 hrs must be ethics). CPE for ABA: at least 24hrs in accounting, 24hrs in taxation, the rest can be related subjects, e.g., management, business law, payroll, state issues.
(4)  NATP Renewal: None required.
(5)  CPA: Check with your state for requirements.
(6)  Registered Tax Return Preparer (starting in 2011): 15 hrs per year---10 hrs Federal taxation & 3 hrs Federal update + 2 hrs of Ethics every year (not on a 3 year cycle).

OPR is doing audits of EA CPE records. What you need to have:

1.  Signed certificate with adequate course description. To be safe, keep a copy of the class/course content plus the certificate.
2.  Keep CPE records for current and previous cycle, i.e., up to 6 yrs of CPE info.
3.  The determination of qualifying CPE is the responsibility of each EA.

PTIN procedures

Target date: beginning September 1, 2010, register or refresh your PTIN (Preparer Tax Identification Number). IRS fee will be $50 but vendor fee is currently unknown. Go to irs.gov/taxpros, do new application (if you already have a PTIN have it ready when you initiate application), answer 2 or 3 questions, pay the fee, and you are done. You have until Dec 31, 2010 to do this. If you do not, you cannot prepare in 2011 and you won’t be able to get a PTIN until you pass a competency test (Target date: test ready by mid-June 2011), pass a background check, and get fingerprinted. Additional info:
 http://www.irs.gov/pub/irs-utl/new_rules_for_federal_tax_return_preparers_8022010.pdf or download this information here.

Small Business and New Employer Workshops, Las Cruces NM (August - Dece,ber 2010)
The Internal Revenue Service and Social Security Administration in partnership with the New Mexico Dept of Revenue and Taxation will present small business and new employer workshops. The meeting is free and open to the public. For more information, visit www.irs.gov or http://www.lascrucesbulletin.com/

Time:  8:45 am to 3 pm
Location: New Mexico Dept of Revenue and Taxation 2540 El Paseo Road, Building 2, Las Cruces NM
Contact: 524-6225

10:00-12:30 Small Business

1:00-3:00 New Employer, presented by Pat Jenkins, EA, NMSEA, IRS Volunteer
Jacky Mirabal, SSA presenting SSA requirements of Employers.

2010 NMSEA Special Seminars

Excel Classes

November & December. Specific dates: TBD.

Will be offered on Saturdays only.

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