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How To Choose a Income Tax Return Preparer
R. Espy
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Defined Tag: Tax Preparation.
For a taxpayer that has decided to choose a tax return preparer, understand the importance of making the right choice. It is a must to choose a tax professional that is qualified and reputable to meet their tax needs. It is the taxpayer that is ultimately responsible for the accuracy of their tax return regardless of who was employed for tax preparation help.
Choosing a tax return preparer will help prevent you from incurring financial penalties from the Internal Revenue Service which may include additional taxes or interest. The preparer will ask for a a thorough accounting of your finances. In order to verify which exemptions, deductions, expenses and other items fit your situation you should be asked relevant questions by the preparer. A good tax preparer is also going to want you to produce receipts and records in an effort to minimize winding up in a dispute with the IRS later
Locating a qualified tax preparer should not become a chore nor should it be taken lightly. You can choose from various tax return preparers locally or online. However, use due diligence and make sure that the tax return preparer you choose is honest, professional and can fulfill your individual or business tax preparation requirements.
First find out exactly how much the their services will cost. Is it a flat fee or based on a percentage of your tax return? Ask up front.
Doing some research will go a long way in choosing a tax return preparer. Be sure to check the prospective preparers credentials and if they are up to date. You want to find out if the preparer is a member of a professional association that has a code of ethics and where continuing education is mandatory. The Better Business Bureau is another good place to find information. You can also check state and local boards for CPA's and bar associations for attorneys.
Make sure when choosing that the tax return preparers' qualifications and expertise meet your needs. Keep in mind if an action before the Internal Revenue Service is necessary you can be represented only by enrolled agents, CPA's or tax attorneys in all actions including collections, appeals and audits. A taxpayer can be represented by all other tax return preparers only if you are audited and they signed your return as the preparer.
Get references from previous clients of the tax return preparer and again don't be afraid to ask questions, after all you will be trusting this individual with vital information. Make sure they have delivered satisfactory service to their clients. It is also a good idea to choose someone who will be accessible after your tax return has been filed and who can respond to your individual needs.
Most importantly stay away from any tax return preparer who's practices even hint at being illegal. Do not fall for schemes or scams that purport to be able to offer you great refunds or take advantage of unverified "loopholes". You just want to get your taxes filed honestly and accurately, not become involved in a scheme or tax fraud that could cause you dire consequences with the IRS in the future.
Use good judgement and follow these suggestions it should help you locate the best tax preparation help to fit your needs. Don't trust your tax returns to just anybody. These are some of the things to consider when choosing a tax return preparer to do your taxes
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