IRS REGISTRATION (PTIN & EFIN)

Q. What is a Preparer Tax Identification Number (PTIN)?

The PTIN is the number issued by the Internal Revenue Service to paid preparers to use so they do not have to disclose their Social Security number (SSN) on the returns they prepare. The PTIN cannot be used in place of the Employer Identification Number (EIN) of the tax preparation firm.


Q. How do I get a (PTIN)?

To obtain a PTIN you have to register with the IRS and follow their requirement as listed on their website, which includes Continuing Education and a Competency Exam. To see the details please visit the IRS website at  here


Q. What is an EFIN??

An EFIN is a number assigned by the Internal Revenue Service to preparers that are accepted into the fed/state e-file program.


Q. How do I obtain EFIN?

To obtain a PTIN you have to register with the IRS and follow their requirement as listed on their website, which includes Continuing Education and a Competency Exam. To see the details please visit the IRS website at  here




OUR MODEL

Q. I don’t have any Tax Preparation Experience can I still get in this business?

No you do not need to have any prior knowledge or training in tax preparation. Our complete startup Interview Based Model enables your business to get off the ground quickly and start running in a short period of time. We review and certify every return you process to ensure there are no errors.


Q. HOW DOES YOUR MODEL WORK? ?

Maxim Tax Services offers two types of models for individuals and businesses to start in the Tax Preparation Industry. Interview Based Model where you use Maxim’s backend to do tax preparation and Preparer Model where you do the Tax return yourself.


Q. How does the Interview Based Model Work ?

In the Interview Based model, you can enter the Tax Preparation Industry even if you don’t have a PTIN/EFIN. You will enter your customer’s basic information (ex. W2, Mortgage Interest etc.) into the software and give your customer a refund estimate. If the customer likes it you will send all their paperwork to our backend office via scan/email or fax. There under the guidance of a Registered Tax Preparers, CPA, Enrolled Agent the customer’s Tax Return will be submitted and efiled. Therefore, in this model we take all the liability of the return and you just manage the customer relationship piece


Q. How does the Preparer Model work ?

In the Preparer Model, you will be the person responsible for your customer’s return. You need to be a RTRP and have your own EFIN. You will use our Professional Tax Software to prepare their returns and you will be signing the return as well.


Q. Can I operate more than one location ?

Yes you can. Ask our sales team for multiple location pricing.


Q. What is the typical duration or term of the contract ?

One year/tax season.


Q. Why should I consider the Tax business ?

Last year, 62% of Americans had their taxes prepared by a CPA, tax franchise, or other local tax preparation expert. This translates to 87+ million PAID returns!


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