Lessons Learned About Taxes

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. But if you have to pay someone else to do the critical task for your company, you have to be very careful in making a choice. Be aware that the Interview Revenue Service will put the responsibility and the liability on you if your tax return comes with mistakes even though you are not the one who is personally preparing it. So many companies today do not choose a tax return preparer carelessly. 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. He must also be attending continuing education classes in order for you to make sure he is updated of the new 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.

Assess Your Preparer’s History

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. You need to verify if the tax preparer is having some questionable standing with the 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 preparations may come with different methods for charging companies. But to be safe, you must not select one who charges fees on the basis of your refund percentage. More than that, do not go for the individual who says they can have larger refunds than other preparers. Also, you have to make sure that the refund of taxes are sent to your company’s bank account number.

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