ODONI PARTNERS CPA CHICAGO

Chicago

RTRP – Registered Tax Return Preparer

Happy black man (Large)Odoni Partners is the premier provider in Chicago for the tax preparation course for individuals to become RTRPs (Registered Tax Return Preparers), as well as the CPE courses that will satisfy the 15-credit-hour annual requirement.

Who is an RTRP?

The Internal Revenue Service recently implemented an oversight program to increase the quality of the tax preparation industry and to improve services to American taxpayers. This program requires all paid tax return preparers to register with the IRS each year and have a PTIN (Preparer Tax Identification Number).

Certain tax return preparers who prepare the Form 1040 series returns must also pass a one-time competency exam, a tax compliance check and a suitability check.  Preparers who meet these requirements will be given the designation of Registered Tax Return Preparer. 

The RTRP test is a competency exam intended for return preparers to demonstrate basic proficiency in U.S. tax law, tax return preparation and ethics. It is a 120-question exam timed at 2.5 hours. Preparers who are required to pass the test have until December 31, 2013. However, because there are an estimated 340,000 who must take the test, the IRS is urging people not to wait until the last minute, but rather to pass the test before it launches a publicly searchable database of preparers and their credentials in the months ahead.

In addition, beginning in 2012, RTRPs are required to complete 15 hours of continuing education annually. This includes 10 hours of general federal tax law, 3 hours of tax law updates and 2 hours of ethics.

RTRP Prep Course:

Our courses are conducted live (students participate in person) by CPAs who have 15+ years of tax preparation experience. The classes are designed to meet both requirements of sitting for the exam and earning the 15 credit hours needed.

 

Learning objectives include:

 

  • Filing Status
  • Personal Exemptions
  • Wages and Salaries
  • Interest and Dividend Income
  • Pension and Retirement Income
  • Other Items of Income
  • Adjustments to Income
  • Standard Deductions
  • Medical Expenses
  • Charitable Contributions
  • Deductible Taxes
  • Interest Expense
  • Other Itemized Deductions
  • Personal Credits
  • Tax Payments
  • Ethical Concepts and Enforcements Including Circular 230

 

Call (312) 440-0960 to obtain course schedules and for information on how to register.

 

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