How to Get a Good Tax Return Preparer for Your Company
There’s so much challenge and responsibility into preparing and filing your income tax return. If you cannot do it on your own, then it is better to hire someone to do it in your place. But then if you have to pay someone to perform this very critical work, you need to be the most careful in choosing a person. Whatever is on your tax return, the IRS will hold you liable and responsible for all of them even if you are the one who’s preparing it. Most companies do not choose just any tax prepare. The persons they hire are trustworthy, well-experienced and professional. Please read on to the next few parts of this article in order to know how you can select your tax return preparer properly.
Evaluate the Person’s Qualifications
The IRS has a new regulation which makes it necessary for paid tax return preparers to have a Preparer Tax Identification Number. It is even necessary that you check your hired preparer has an affiliation with a professional and legitimate body or organization in your location. It also matters if your preparer is pursuing continuing education to give you assurance that he is aware of every new regulation on tax preparation the IRS is giving. Even more, tax return preparers who are not a CPA, enrolled agent or attorney are demanded to pass a new test requirement. The passing of said test will render one a Registered Tax Return Preparer.
Evaluate the Person’s History
Checking your preparer’s history prove to be a very essential task in selecting a person who will represent your company with the IRS and preparer your text under your name. Check if the person you are eyeing at comes with a questionable history with the BBB or Better Business Bureau. You may also check with the state boards of accounting for certified public accountants, the IRS Office of Enrollment for enrolled agents and state bar associations for lawyers if there had been any disciplinary action sanctioned on the preparer and what is status may be.
Check the Service Fees of the Preparer
There are different ways by which tax preparers charge their clients. But to be safe, you must not select one who charges fees on the basis of your refund percentage. Do not even choose someone who claims that he has gotten larger refunds than other tax preparers. Also, you have to make sure that the refund of taxes are sent to your company’s bank account number.