Janitor Bob Posted June 6, 2012 Report Share Posted June 6, 2012 Registered to take the RTRP exam Sept 14....will this be sufficient time to study? I am being bombarded by ads for different CE and Test prep companies.....does it really matter as long as they are IRS authorized? Quote Link to comment Share on other sites More sharing options...
Kea Posted June 6, 2012 Report Share Posted June 6, 2012 I would think that should be sufficient time for study. I took NATP's RTRP class in early December and took (and passed) the test in late December. I really didn't try to tackle the huge book I got in class, but spent my time going over the sample tests they (NATP) had on-line. Most of the questions that I couldn't answer off the top of my head I could find in the provided Pub 17 and instructions. The exception being the Circ. 230 questions. Since they don't give you an online version to look up answers, I probably should have spend more time studying the Circ. 230. Quote Link to comment Share on other sites More sharing options...
Janitor Bob Posted June 6, 2012 Author Report Share Posted June 6, 2012 Does the RTRP review courses I see offered also count towards the mandatory 15 hours CPE? I was thinking about self study to save money, but if I can kill two birds.... Quote Link to comment Share on other sites More sharing options...
Kea Posted June 6, 2012 Report Share Posted June 6, 2012 I've read that it can count for up to 10 hours. But that was just on a CPE website, not anything official from IRS. It wasn't an issue in my case since I took the test in 2011 and didn't get the results until 2012. So this is the first year I have to meet the CPE requirements. Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted June 6, 2012 Report Share Posted June 6, 2012 I've read that it can count for up to 10 hours. But that was just on a CPE website, not anything official from IRS. It wasn't an issue in my case since I took the test in 2011 and didn't get the results until 2012. So this is the first year I have to meet the CPE requirements. Everyone who is subject to the new testing has to do the continued education this year regardless of taking the test or not. Continued education begins in 2012 and all subject to the new testing must complete (and pass) the test by December of 2013. Deb! Quote Link to comment Share on other sites More sharing options...
mcb39 Posted June 6, 2012 Report Share Posted June 6, 2012 I did not find it necessary to spend the extra money taking a study course for the RTRP. IMO, along with Kea is to really read and read and read the Circular 230. Also, bone up on your research skills as the Pub 17 is there online for you to use if you don't take up too much time searching. I took the test on May 23 and received my Certificate yesterday. Everyone seems to be trying to cash in on this RTRP requirement by offering study courses. Unless you are a complete novice (and you aren't) you don't need it. Also, watch the IRS videos regarding what to expect. I watched them early on and then again a few days before going for the test. Quote Link to comment Share on other sites More sharing options...
Janitor Bob Posted June 6, 2012 Author Report Share Posted June 6, 2012 I was not going to pay RTRP prep course because (as you mentioned) I thought I could prepare myself and save money....but I need to pay for 15 hours of CE and if the RTRP review will count towards 10 of the required 15, I figured I should go ahead and pay for one. Several ads I have seen offer the review course along with an additional 5 hours CE. Quote Link to comment Share on other sites More sharing options...
Pacun Posted June 7, 2012 Report Share Posted June 7, 2012 When the EA exams were done by hand, I passed them in two days without paying any prep courses. I think paying for test prep for the RTRP is a waste of money if you have some experience. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted June 7, 2012 Report Share Posted June 7, 2012 I was not going to pay RTRP prep course because (as you mentioned) I thought I could prepare myself and save money....but I need to pay for 15 hours of CE and if the RTRP review will count towards 10 of the required 15, I figured I should go ahead and pay for one. Several ads I have seen offer the review course along with an additional 5 hours CE. The way I read some of those ads; they are just offering the additional 5 hours as a ploy to get you to sign up for the RTRP course. I doubt that the RTRP prep course counts for 10 of the required 15; for one thing; each of those hours is designated as counting for something. So many for ethics, so many for new law changes, etc., etc. Before I decided to take the RTRP, I decided to just take the test on my own merits and then sign up for a course that would give me the entire 15 hrs CE; such as the course that I have been attending for the past ten years. That way I will have the CE cert from one place. I don't like doing things in bits and pieces and I don't like all these e-mails trying to cash in on something that is difficult enough for us both financially and mentally. Good Luck JB whichever way you decide to go. Quote Link to comment Share on other sites More sharing options...
MAMalody Posted June 7, 2012 Report Share Posted June 7, 2012 I was looking at the registration informtion and have a questions. My PTIN registration names is listed with a middle initail while all my ID has my full middle name. The instrustions only indicate that the testing registration information must match the ID. So if I register with the ID information will this mess anything up since my PTIN name only has the middle initial and not the name. The IRS web site indicates it may delay the issuing of the certificate but not that you can't do it. I can change the PTIN info, but it must be in writing and could take months. What do you think? Quote Link to comment Share on other sites More sharing options...
mcb39 Posted June 7, 2012 Report Share Posted June 7, 2012 What I know is that my RTRP certificate is issued in my first and last name only. My ID; which is my drivers' license, has my middle initial on it. My PTIN has my middle initial on the login. My result letter does not have my middle initial either. In other words, none of this caused a flutter when I went to take the test. You have to have a picture ID when you present yourself and nobody at the testing center called me anything other than my first name. I think you will be fine; they really just want to verify that you are who you say you are. If it is a big worry for you, call your Prometrics testing center and ask them. There is a phone number on your registration confirmation e-mail. Good Luck. Quote Link to comment Share on other sites More sharing options...
MAMalody Posted June 8, 2012 Report Share Posted June 8, 2012 Thanks for the input. Quote Link to comment Share on other sites More sharing options...
taxxcpa Posted June 9, 2012 Report Share Posted June 9, 2012 I would suggest practicing looking up things in Pub 17. Get familiar with how it is indexed noting that you might think of something by one word but Pub 17 has it indexed by another word that could be used to designate a topic. Every question on the test is probably covered by Pub 17 or Circular 230 and I understand it is an open book test, but you have to access the information online. Like a lot of CPE, they probably dwell on a lot of things like "how much is an exemption allowance" which is hardly indicative of your tax-preparation abilities since that sort of thing can be done by your tax program. 1 Quote Link to comment Share on other sites More sharing options...
mcb39 Posted June 11, 2012 Report Share Posted June 11, 2012 We are not allowed to tell what they "dwell on"; but you are making simplified assumptions that may confuse and/or mislead some RTRP candidates. You are correct in your assessment of studying how to look things up in Pub 17. It is also extremely important to familiarize yourself with Circular 230. These are things that we have all been told to be aware of. Also, watch the video on the IRS website. I watched it several times. Other than that we cannot discuss the nature and variety of the questions. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted June 11, 2012 Report Share Posted June 11, 2012 We are not allowed to tell what they "dwell on"; but you are making simplified assumptions that may confuse and/or mislead some RTRP candidates. You are correct in your assessment of studying how to look things up in Pub 17. It is also extremely important to familiarize yourself with Circular 230. These are things that we have all been told to be aware of. Also, watch the video on the IRS website. I watched it several times. Other than that we cannot discuss the nature and variety of the questions. Will the penalty for talking about the "nature and variety of the questions" be the same as preparing returns without signing them, or not having enough CPE credits in October?? When was the last time anyone was prosecuted for these things? Just sayin.... Quote Link to comment Share on other sites More sharing options...
mcb39 Posted June 11, 2012 Report Share Posted June 11, 2012 And I am "just sayin" that I signed a paper saying that I would not discuss the nature and variety of the questions; and prosecute, fine or whatever; my word is my bond. The penalty would be disallowance of your RTRP designation. Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted June 11, 2012 Report Share Posted June 11, 2012 ...The penalty would be disallowance of your RTRP designation. As I understand the program, they can "disallow" the RTRP arbitrarily anyway, just like your PTIN or EFIN. The whole program (although I am complying) in my opinion is just a money grab with a paper covering of an excuse that it is to reduce fraudulent, inaccurate or intentionally wrong tax returns. Quote Link to comment Share on other sites More sharing options...
Terry O Posted June 12, 2012 Report Share Posted June 12, 2012 I understand that you are not allowed to give out information regarding the contents of the RTRP exam, however, my question is - -how time consuming and difficult is it to access the Pub 17? Even after 30 yrs in teh business, I found myself getting hung up with some of the form # questions - -and getting a "passing" grade on practices. I also find myself trying to overthink the question - - - my experience - -it's almost NEVER black & white - - and I won't even go into the 50 shades of grey - - - My exam is scheduled for tomrrow - fingers crossed. :wacko: 1 Quote Link to comment Share on other sites More sharing options...
Kea Posted June 12, 2012 Report Share Posted June 12, 2012 I looked up several questions (some I didn't know, some I just wanted to verify). I found most of the answers relatively quickly, but there were about 2 or 3 I didn't find before time ran out. Since I had the time, I used it to check and re-check everything. 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted June 12, 2012 Report Share Posted June 12, 2012 Good luck! Quote Link to comment Share on other sites More sharing options...
mcb39 Posted June 12, 2012 Report Share Posted June 12, 2012 I looked up several questions (some I didn't know, some I just wanted to verify). I found most of the answers relatively quickly, but there were about 2 or 3 I didn't find before time ran out. Since I had the time, I used it to check and re-check everything. This was my scenario almost exactly. If you are familiar with the 17 and you know how to use a mouse, looking up answers for verification or just because; is easy enough. Just stay calm, and read the questions carefully. They do give you a run down on how the whole thing operates, which you can read before the clock starts ticking. I also had time left over to go back and check. I wish everyone taking this test the very best of luck. I was a wreck for two days before and pretty spacey for two days after. 1 Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted June 13, 2012 Report Share Posted June 13, 2012 I just set my appointment. I'll be taking the test on the 28th. Time to hit the books, practice the online pub 17, ect...... Deb! Quote Link to comment Share on other sites More sharing options...
Terry O Posted June 13, 2012 Report Share Posted June 13, 2012 OK - - just got back - - -PASSED - - YAY - - Personally -- 70% of the exam was pretty clear - -forthright - -easy to find the correct answer if you weren't sure. 30% was either in teh Circular 230 - -or soooooooooooooo ambiguius, that I thought after 30 yrs in the business, I had every question imaginable - -but there were a few I had NEVER come up with. Go for it people! 4 Quote Link to comment Share on other sites More sharing options...
Kea Posted June 13, 2012 Report Share Posted June 13, 2012 Congrats!! Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted June 13, 2012 Report Share Posted June 13, 2012 Woo Hoo! Congratulations! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.