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 are not able to do it, then it would be wise to just employ someone who can do it in your stead. However, if you have to pay someone to carry out this important job, you need to make sure that you are choosing the right 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. A lot of companies are playing safe with choosing their tax return preparer. The persons they hire are trustworthy, well-experienced and professional. Kindly read on to know how to get a good tax return preparer for your company.
Evaluate the Person’s Qualifications
The Internal Revenue Service has a new regulation which necessitates all individuals who are paid to prepare income tax returns for companies to acquire a Preparer Tax Identification Number or PTIN. It is even necessary that you check your hired preparer has an affiliation with a professional and legitimate body or organization in your location. In addition to that, your hired preparer must be attending a continuing education programs for tax preparation in order to provide you with the assurance that he can handle the job in accordance to the updated regulations of the IRS. The IRS is even providing a new test requirement for preparers who are not CPAs, attorneys and enrolled agents. The passing of said test will render one a Registered Tax Return Preparer.
Check the History of the Preparer
Before you decide to hire a specific individual to be your income tax return preparer, it is important that you take time to check his history. 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 Out How Much You Will Have to Pay to the Preparer
Tax preparers do not have the same method of charging their clients. But then usually, it does not help you if you choose a preparer who charges you on a percentage of your refund. In addition to that, do not choose a preparer who claims that he has provided larger refunds to your companies than other preparers can. It is also important that the preparer sends the tax refund directly to an account name of your company instead of personally.
Source: online tax return