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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16575
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I work for a RE broker and we are doing a short sale on a property.

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I work for a RE broker and we are doing a short sale on a property. Told by an IRS advisor to fill out form 8821. Don't understand what a CAF# XXXXX PTIN is.

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

How are you today?

MyVirtualCPA :

The CAF # XXXXX XXXXX Centralized Authorization File number.

MyVirtualCPA :

The Centralized Authorization File (CAF) allows the input of more than three designees, per tax module, per authorization type (Form 2848 or Form 8821).

MyVirtualCPA :

PTIN is paid preparer identification number. If you fill out tax returns for third parties for pay, you would have a PTIN. If you are filing this for your employer you would not need a PTIN

Customer:

I am fine thanks for asking. So would the person designated/appointed have to have this?

MyVirtualCPA :

You would be given it You should have it if you are the person designated

MyVirtualCPA :

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/The-Centralized-Authorization-File-%28CAF%29---Authorization-Rules

Customer:

Now what if we don't have this? Do we leave it blank? The instructions say nothing is to be left blank/

MyVirtualCPA :

You should have this number. If you are a practitioner and filling out form 8821, you should have the number

MyVirtualCPA :

IF you don't go here for help: http://www.irs.gov/Tax-Professionals/Practitioner-Priority-Service-%C2%AE

Customer:

Then I should send this form to his tax preparer? Ok I will go to those sites

MyVirtualCPA :

Are you preparing the form?

MyVirtualCPA :

The PTIN is for a paid tax preparer...you don't need one unless you prepare other peoples' tax returns for pay.

Customer:

Yes I was trying to

MyVirtualCPA :

And you don't have the CAF# XXXXX if the practitioner doesn't have it you will need to contact the IRS

Customer:

Thanks

MyVirtualCPA :

You're welcome. If you would, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today

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