WASHINGTON — Municipal market participants have many questions about new rules adopted by the Internal Revenue Service that require paid tax preparers to register with it, possibly take competency tests, and pay penalties for improper filings.

Beginning Jan. 1, 2011, all paid tax preparers will have to register with the IRS and obtain a preparer tax identification number, or PTIN, under final tax rules released last month. Preparers can register online through the IRS’s website.

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