The IRS has announced that it has begun to provide test results to tax return preparers who have taken the new return preparer competency test.
The competency test to get your new designation, Registered Tax Return Preparer, is a 120 question test which has a perfect score of 500. Preparers must score a 350 or higher to receive a passing grade. Basically, they must get 70% or higher to pass.
Those who have already taken the test have been sent a letter from the IRS informing them whether they passed or failed. Preparers who pass the test must still pass a tax compliance check which is generally given a few weeks after the test score is issued. Those passing both the test and the compliance check will then be issued their Registered Tax Return Preparer certificate. Only people receiving the certificate can call themselves a Registered Tax Return Preparer.
The test can be taken at over 260 locations, and the test fee is $116.
Pricing is officially set for tax preparer registration for the coming 2010 tax year.
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