‘Tax preparation’ is called the process of preparing tax returns. It may be done by the taxpayer himself or herself. Tax preparation software and online services might be used in the process. When one is not sure how to deal with preparing their taxes, this can also be done by a licensed professional. Since United States income tax laws are complicated enough, many taxpayers prefer to use the help of professionals. An enrolled agent is someone who is authorized to represent taxpayers, before the Internal Revenue Service.
Tax preparation consulting helps with more complicated tax returns and may save you a lot of trouble.
How to Choose a Tax Preparation Consulting Company in Florida?
Keep in your mind the following check list when choosing the firm that’ll prepare your tax return:
Choose a Trusted Tax Preparation Consulting Company. All paid tax return preparers need to have a Preparer Tax Identification Number (PTIN). When working with real professionals, you will be sure that your tax preparer has at least minimal competency requirements.
Check the history of your tax preparer. You need to check if the preparer or the company has a questionable history with the Better Business Bureau.
Check the service fees. Do not work with preparers whose fee is based on a percentage of your refund. Also avoid the ones who claim that they can obtain larger refunds than other preparers. Always make sure that any refund due is sent to you or directly deposited into your bank account. Never agree all or a part of the amount to be deposited into the preparer’s bank account.
Check whether the preparer has electronic filing. All paid preparers who make and file more than 10 returns for clients must file them electronically, unless their clients choose to file a paper return. You should check and make sure that your preparer offers IRS e-file.
Accessibility is important. You need to be able to contact your tax preparer even after the return has been filed.
Have all your records and receipts prepared. When using professional tax preparation consulting services, the preparers will want to see your receipts and records. You will be asked a lot of questions. They will help the preparer determine your total income, as well as your qualifications for expenses, deductions and others. You should not use the services of a preparer who wants to electronically file your return before you received your Form W-2.
You should never sign a blank return. You should talk to the tax preparer you chose and never agree to sign a blank tax form.
Review before signing. You tax preparer should encourage you to review your tax return, before signing it and to ask questions on it. The tax preparer should be sure that you understand everything and the return is accurate.
A Signature from the preparer. Your preparer has to sign the form and to include the preparer tax identification number (PTIN). You should receive a copy of the return.
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