It's filing extension crunch time, but people rushing to get their tax return filed should…
The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. Taxpayers should choose their tax return preparer wisely.
This is because it’s ultimately the taxpayer who is responsible for all the information on their income tax return. It’s important for people to remember that this is true no matter who prepares the return. Here are some tips for folks to remember when selecting a preparer. Taxpayers should:
People can use the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications. This tool helps taxpayers find a tax return preparer with specific qualifications. The directory is a searchable and sortable listing of preparers.
Taxpayers can ask the local Better Business Bureau about the preparer. They should check for disciplinary actions and the license status for credentialed preparers. There are some additional organizations about specific types of preparers:
•Enrolled Agents: Go to the verify enrolled agent status page on IRS.gov.
•Certified Public Accountants: Check with the State Board of Accountancy.
•Attorneys: Check with the State Bar Association.
People should avoid preparers who base fees on a percentage of the refund or who boast bigger refunds than their competition.
The quickest way for taxpayers to get their refund is to electronically file their federal tax return and choose direct deposit.
Taxpayers may want to contact their preparer after this year’s April 15 due date. People should avoid “fly-by-night” preparers.
Good preparers will ask to see a taxpayer’s records and receipts. They’ll ask questions to figure things like the total income, tax deductions and credits.
Taxpayers should not use a tax preparer who asks them to sign a blank tax form.
Before signing a tax return, the taxpayer should review it. They should ask questions if something is not clear. Taxpayers should feel comfortable with the accuracy of their return before they sign it. Once they sign the return, taxpayers are accepting responsibility for the information on it.
Taxpayers should make sure that their refund goes directly to them – not to the preparer’s bank account. The taxpayer should review the routing and bank account number on the completed return.
All paid tax preparers must have a Preparer Tax Identification Number. By law, paid preparers must sign returns and include their PTIN.
Most tax return preparers are honest and provide great service to their clients. However, some preparers are dishonest. People can report abusive tax preparers and suspected tax fraud to the IRS. Use Form 14157, Complaint: Tax Return Preparer.
Order would put an end to Navient’s years of abuse of students and taxpayers in…
Running a home-based business comes with many perks—flexibility, no daily commute, and the comfort of…
Tax season can be a time of anticipation and excitement, especially when you’re expecting a…
It's that time of year again – Tax Day 2024 is here! Today is the…
The Protecting Americans from Tax Hikes (PATH) Act was created in order to protect taxpayers…
The IRS’s “Where’s My Refund?” tool will be updated by February 17, 2024, for many…
This website uses cookies.