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Factors to Consider When Choosing a Tax Preparation service
Choosing the best tax preparer to handle your returns can be daunting due to the many choices available. The following article will guide you in choosing the right tax preparer.
Verify that the tax preparer has the right qualifications including a Preparer Tax Identification Number. Do not hesitate to ask for a PTIN form your tax preparer which is obtained from the IRS. 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. Besides, you want to choose a tax return preparer that belongs to a professional organization as this shows that they follow set standards.
Use the internet to check the preparer’s history before you hire their services for your business. A good way of finding reputable preparers is by talking to friends and others around you who have used the services of particular professionals before. Make sure that your tax preparer has good ratings with Better Business Bureau and have not been subjected to any malpractice action. 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. Always ensure that the preparer will be accessible year round and not just before April 15th. 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.
Look for a tax preparer who has a long history of success in the business. You can measure their experience by the number of returns that they do in a year. Besides, the benefit of hiring a knowledgeable preparer in that they are more likely to be familiar with the changing tax codes that will be used in your situation.
The other tip is to know what is included in their services and their fees. Apart from handling your return, there are preparers who will also offer audit services while some only specialize in returns. It is advisable to avoid preparers who charge you for their services on a percentage of your return.
Any professional tax preparer will ask you to provide them with your records and receipts and ask questions in order to ascertain your total income and deductions. 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.
Lastly, find out how the preparer is going to protect your information including your legal name, income, address, social security number, and investments. Along with ensuring that the preparer is trustworthy, also ensure that they follow IRS security measures to protect the information from third-party hackers.