The Certified Financial Planner Board of Standards said Tuesday that CFPs can now earn continuing education credits when volunteering for the Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) programs offered by the Internal Revenue Service’s free tax preparation program.

These CE credits can now be reported to meet CFP Board CE requirements, and candidates for CFP certification are also eligible to report volunteer hours to help fulfill their experience requirement, the Board said.

“We are very pleased to have the IRS as a partner in offering the VITA/TCE program for continuing education opportunities,” said Elizabeth Stewart, CFP Board’s chief operating officer, in a statement. “This cooperative arrangement will benefit financial planning firms, our CFP professionals, candidates for CFP certification and the communities they serve.”

CFP volunteers can earn CE credits by completing the required tax law certifications and serving as an IRS tax law-certified volunteer instructor, tax return preparer, and/or quality reviewer in the VITA or TCE Program, the Board explained.

However, individuals interested in volunteering and earning CE credits should refer to the IRS Fact sheet for all requirements.

“Our partnership with CFP Board will have a positive impact on the thousands of communities we serve across the nation,” said Frank Nolden, director of Stakeholder, Partnerships, Education and Communication at the Internal Revenue Service. “CFP professionals who volunteer with the VITA/TCE program will be a great asset in helping to maintain the quality, integrity and credibility of our free tax prep sites.

Current CFP professionals who meet the VITA/TCE volunteer requirements can log into their secure CFP Board account and follow instructions to self-report and claim their continuing education credit.

Professionals may view the CFP Board video to obtain step-by-step guidance on how to self-report registered CE program credits to CFP Board.

— Check out CFP Board Launches Campaign to Attract Younger, More Diverse Advisors on ThinkAdvisor.