How to Select a Tax Return Preparer
Preparing your business tax return can be overwhelming, hence, the need to hire the services of professional tax preparers to handle your returns accordingly. The following article will guide you in choosing the right tax preparer.
Check if the tax preparer you are considering has a Preparer Tax Identification Number (PTIN). It is a requirement for anyone preparing tax to have a valid PTIN. Another important qualification to review is their certification and education. In addition, you may want to consider a tax preparer who continues with their education every year. Good preparers will have a membership with professional organizations or associations.
It is also important to check into the history of the person who is going to prepare tax returns for you. It is helpful to seek recommendations from friends and family who have used tax preparation services in the past. Another good way to ensure that the person having access to your information is trustworthy is by checking if they have any disciplinary issues or complaints with Better Business Bureau. If you are considering accountants or attorneys, you can check with your state accountancy board or the bar association of your state for more information.
Another important consideration when choosing tax preparers is availability. A good preparer will be available even when the tax season is over. It should also not be difficult to reach them by phone in case the return needs amendment or when IRS asks you questions regarding your return.
Inquire how long the tax preparer has been in business before you make your decision. You can measure their experience by the number of returns that they do in a year. You also want an experienced preparer who is up-to-date with the applicable tax laws so that you can be assured that they will handle your return accordingly.
Before you make any hiring decision, it is important to inquire what services are included as well as their fees. Some preparers offer services such as tax returns, audit services while others will offer guidance on how to prepare the returns on your own. Be vigilant of preparers who base their fee on a proportion of your refund.
Look for preparers who ask to see your receipts and records and ask financial questions. Do not consider a preparer who is looking to e-file your return by using your last pay stub and not your Form W-2.
Information about your income and investment is very sensitive and when it is not well protected, it could lead to fraudulent activities, hence, inquire about their security procedures. Besides, a competent and professional preparer will follow the security measures set by IRS in order to prevent access to this information by third-parties.