Are you planning to hire a tax preparer or consultant to help you with your returns? This article is going to offer you some advice on choosing one. Hiring the right accountant can help you in saving thousands or hundreds of dollars annually. Apart from wasting your money time, hiring the wrong professional can also force you to hire another one. This can also result in missed deductions. Hiring a professional is one of the smartest ideas especially for those people who have complex returns involving the tricky gray areas or multiple judgement calls.
Taxpayers are urged to use or hire tax consultants who are capable of entering the identification numbers of the taxpayers as well as signing all the returns they prepare. Some regulations require every taxpayer to have his or her PTIN (prepare Tax identification number). Again, the hired professional should be affiliated with professional organizations or ready to pursue other professional courses such as CPA. Additionally, all the accountants are required by the law to register as tax return preparers.
Electronic filing of returns has greatly increased the speed in which returns are being processed. This system has been in use since 1990, but some people still prefer the paper copies. This system has also helped in minimizing errors made when computing the returns.
The fee charge should not be calculated a percentage of the refund. Anyone basing his fee from your refund should always be avoided. In addition to that, it is important to ensure that all the refund have been deposited in your name and to your account.
Receipts and records requests
A reliable tax consultant will ask you some questions and request all the backup information that might help him or her in determining your deductions. This means that the hired professional should be accessible even after filing your returns to address any concerns or questions that might arise.
The consultant’s history should be checked to ensure that he or she does not have any disciplinary issue. This will also help you in finding out if his or her license has ever been revoked. This information should be checked state counsel of attorneys and from IRS office.
Lastly, you are discouraged from signing any blank form. It is important to understand everything before completing and signing any form. The form should also be reviewed to ensure that the data entered is correct.