A renewal applicant shall complete at least 16 hours of qualifying continuing education for each 2-year registration term. A minimum of 4 hours of the continuing education for each 2-year registration term shall be in Maryland tax-related subjects. The Board may accept continuing education hours approved by the Internal Revenue Service. Continuing education hours earned in excess of the 16 hours for a 2-year registration term shall not be credited towards the continuing education requirement for a subsequent 2-year registration term.