Over the past several years Maryland has slowly been enacting state level tax preparer registration, testing, and continuing education requirements. This bundle provides the required 16 credit hours of continuing education to meet Maryland's requirements. This 16 credit bundle is comprised of 4 Maryland specific state tax education credits, 2 of which come from the Ethics, and the remaining 12 credits are fulfilled with IRS general tax law topics.
2 Credits of MD Tax Law
This course bundle includes 2 credits of Maryland-specific tax education material consisting of a thorough rundown of completing and filing the Form 502 for resident taxpayers.
2 Credits of Ethics
Ethics has always been the category of "grey". Not everything in the tax preparation arena is black and white. Many times your clients present you with scenarios that require your scrutiny and analytics through a prism of Ethics. This category covers not only circular 230 and tax prepare requirements and penalties, but it also has scenario related topics to help you get a basis for identifying incomplete, inconsistent, and inaccurate return information and how to deal with those clients. As per the rules from Maryland's State Board of Individual Taxpayers found in COMAR 09.38.02, these two Federal Ethics credits count for two of the four required credits in Maryland-specific tax law education.
12 Hours of Additional Federal Tax Law Education
The remaining twelve hours of Maryland's 16-hour course requirements can be pulled from any of our three domains of tax law education; Federal Tax Law Topics, Federal Tax Law Updates, and Ethics.
PSI Examination Services is the only company that administers the Maryland tax preparer examination. The cost of the exam is $65 and a grade of 70% or better is required to obtain a passing score. Exam takers are allotted 180 minutes to take the exam. Reference materials such as IRS publication 17 and MD state tax form instructions are allowed to be used during the examination process. Scheduling to take the exam is facilitated through the PSI website at: https://candidate.psiexams.com/catalog/fti_agency_license_details.jsp?fromwhere=findtest&testid=3856
If you are chosen for Audit
If you are chosen to submit proof of your completion of the necessary continuing education credits, this would be proven by providing the training course documentation and completing the self-certifying Continuing Professional Education Audit Checklist.