Tax preparers should take the time to renew their Preparer Tax Identification Numbers (PTINs), as the IRS reminded them that all current ones will expire at the end of this year.

"Large segments of the taxpaying public rely on tax return preparers to assist them in complying with their filing and payment obligations," said IRS Return Preparer Director Carol A. Campbell. "Obtain or renew your PTIN now so you will be prepared to assist when filing season opens."

Anyone who prepares or helps prepare a federal tax return for compensation must have a valid PTIN from the IRS before preparing returns, and they need to include the PTIN as the identifying number on any return filed with the IRS.

Tax preparers must pay a fee of $35.95 to renew or obtain a PTIN for 2021. The PTIN fee is nonrefundable.

Tax preparers with a 2020 PTIN should use the online renewal process, which takes about 15 minutes to complete. Form W-12 PDF, along with the instructions PDF, provides a paper option for PTIN applications and renewals. However, the paper form can take four to six weeks to process. Failure to have and use a valid PTIN may result in penalties.