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2019 Maryland-IRS AFSP CE 19 hour - Small Business and Depreciation
In order be in compliance with Maryland state law regarding continuing education (CE) for paid tax preparers, you need to successfully complete 16 hours of tax education every two years. Four of the 16 hours must be in Maryland state tax-related subjects. Two of these four hours can be either federal or maryland state tax ethics. Platinum offers a separate 4 hour CE Maryland state-tax-related subject as well as a combined course of 19 hours continuing education which includes 4 hours of Maryland state-tax-related-subjects and 15 hours of continuing professional education as recognized by the IRS. The course includes 10 hours of tax law, three Hours of tax updates, two hours of ethics, and four hours of Maryland state tax law. Platinum Professional Services has combined the IRS recommended CE hours and the Maryland requirements so you can meet all your tax education needs in one course. Platinum Professional Services will report the completed CPE hours to the IRS (IRS Provider # JK8E2). The tax course will review advanced topics including estates and trusts. The combined tax course includes the required 4 hours of Maryland State tax information. Click here for more information on our 4 Hour Maryland State only course.
Maryland-IRS Annual Filing Season Program Continuing Education Requirements
Course Prerequisites: High school diploma or high school diploma equivalent is recommended as well as completion of our Personal Income Tax Return course. Current registration as a Maryland Tax Preparer with the State of Maryland is required. The Internal Revenue Service (IRS) also require individuals to possess a valid Personal Tax Identification Number (PTIN).
A registration issued by the Maryland State Board is required to prepare Maryland individual tax returns. The holding of a current, valid federal PTIN is the primary credential required for the issuance of a state registration. You must be at least 18 years old and hold a valid High School Diploma or GED. The State of Maryland requires that Maryland Tax Preparers complete a minimum of 16 hours of continuing tax education CE every two years, by the anniversary date of the original registration issuance. Once you complete our Maryland Continuing Professional Education Tax Course you will receive a Certificate of Completion. Platinum will also provide you with an audit checklist of your CPE hours to provide to the Maryland Department of Labor Licensing and Regulation if they request it from you. The registration fee for the initial two year registration and subsequent bi-annual renewal is $100. The expiration date will be two years from the date of issuance. In addition, the IRS requires non-credentialed or non-exempt tax preparers to complete 18 credit hours of continuing education including an Annual Federal Tax Refresher (AFTR) if they want to be an IRS Annual Filing Season Program Record of Completion Holder.
Please note: The IRS Annual Filing Season Program record of completion is only available between June 1st and December 31st. Again, Platinum will then report your completion electronically to the IRS. Once the tax preparer has met all three requirements for the Internal Revenue Service AFSP (renewed their PTIN, taken appropriate amount of continuing education, completed and passed the AFTR course/test if required), a record of completion will be available in the PTIN holder's online IRS account for printing. Any "unenrolled" preparer not already bound by Circular 230 will need to sign an agreement to follow sub-part b of Circular 230 before being able to print the certificate from the Internal Revenue Service. There will be no cost to the preparer for the AFSP record of completion. The IRS will then list AFSP tax preparers in their public database including the tax preparer's credentials.
Maryland law requires that applicants for registration pass an examination, Section 21-302(e) of Title 16, Business Occupations and Professions, Annotated Code of Maryland. Maryland law requires that applicants for registration pass an examination, Section 21-302(e) of Title 16, Business Occupations and Professions, Annotated Code of Maryland. The cost of the Maryland Examination is $65. Those tax preparers who have taken and passed the RTRP exam given by the IRS do not have to take the Maryland exam, but must submit a copy of their RTRP Certificate issued by the IRS or the letter of passing results as proof. The Maryland Examination is being administered by PSI Services, LLC. Information about how to schedule, pay for, and take the Maryland Exam may be found at the PSI Exams Online Website.
About the Maryland Continuing Education Course
Course Description: The Maryland 19 Hour CE Small Business and Depreciation course is designed for tax preparers who are looking to complete a tax course that will meet both the 4 hour Maryland CPE requirement and 15 hour IRS recommended CPE. This tax course (IRS Provider #JK8E2) is actually four tax classes in one. The learning objectives expected to be achieved after completion of this tax course includes a better understanding of the following tax topics.
Tax class #1 covers small business tax and depreciation. Tax topics include Schedule C; Business Income and Expenses, and Depreciation - Form 4562 (IRS Course #JK8E2-T-00097-18-S) and provides ten hours of CE credit. Tax class #2 covers 2018 personal and business tax updates. Topics include the Non-Business Energy Property Credit, capital gains (including the new form 8949), standard mileage rate updates and the Small Business Health Care Tax Credit (IRS course # JK8E2-U-00095-18-S) and provides three hours of CPE credit. Tax class #3 covers ethical issues for the tax practitioner. Issues involving the possession of tax records, charging of fees for the preparation of taxes and when is a tax practitioner acting in a disreputable or incompetent manner, are reviewed (IRS course # JK8E2-E-00094-18-S) and provides two hours of CPE credit. Tax class #4 covers the Maryland personal tax return and provides an additional 4 hours of Maryland CE credit completing the 16 hour CE requirement.
Course Organization: This course is presented in an online format. Students create a login I.D. and password to access the course. Once purchased, the course is available for six months. Reading assignments cover the topics in a step-by-step fashion. Each reading assignment is then followed by a one or two part quiz presented in a multiple choice format. The quiz questions will test knowledge of the completed reading assignment. Once answers are submitted the student will be provided with an answer key and feedback, also provided online. Once all of the quizzes are completed, the student will then need to complete a final test that will review all of the topics covered. (Note that completion of the quizzes is not mandatory). The student will receive a pass or fail grade on the final test but, unlike the quizzes, will not be provided with an answer key or any feedback (to comply with IRS guidelines regarding final testing). All quizzes and the final test must be completed with a passing grade of 70% or better in order to meet the 16 hour CE requirement and receive a Certificate of Completion. Course completion is then reported to the IRS by Platinum Professional Services.
Student Support: Students can submit questions and comments in a variety of ways. A toll free phone number (877-315-1772), fax line (877-317-9412) and email address (customersupport @platinumprostudies.com) are all offered to the student. A course evaluation is also provided at the conclusion of the course. The Certificate of Completion is emailed to the student immediately following the successful completion of the course.
The reading material is built within the course with an option to print it out if you prefer to work offline. A series of quiz review questions will then test your understanding of key topics. In addition, one final test will be given at the end of the course. The tax course is available to you for six months upon registration. Our current courses are based upon the IRS' most recently available tax laws, forms, and schedules. We provide all students with tax updates throughout the year on our Platinum Blog site.
Remember, Platinum Professional Services offers automatic grading, feedback on your missed questions, reading material conveniently located within each tax course, and unlimited tries to pass the quizzes and final exam(s). We even offer full instructor support. Our tax courses are available to you for six months (180 days) upon purchase and will expire after the six month term. Please note: Enrolled Agent review courses and Notary courses expire after one year. Learn 24/7, online and at your own pace. Best of all, your Certificate of Completion is emailed to you immediately following the successful completion of the tax course. Platinum will then report your completion electronically to the IRS.
With Platinum Professional Services there is no confusion, only a direct path to success. Feel free to discover the most proficient way to deepen your education and be efficient, all while saving you time and money. Here at Platinum Professional Services, we make it easy for you without any added obstacles. Everyone wants to simplify their life and finally, we have the way.