How to Get a Good Tax Return Preparer for Your Company
Preparation and filing an income tax return is both a challenging and demanding job. 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. 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. A lot of companies are playing safe with choosing their tax return preparer. They often select a person who is professional, well-experienced and honest. Please read on to the next few parts of this article in order to know how you can select your tax return preparer properly.
Check the Qualifications of the Preparer
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. In addition to ensuring the person you choose has a PTIN, you have to ask if he is a member of a professional accounting or tax preparation organization. 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. The IRS is even providing a new test requirement for preparers who are not CPAs, attorneys and enrolled agents. Individuals who are able to pass this test will become a Registered Tax Return Preparer.
Assess Your Preparer’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 the licensure status of the preparer and if he has had disciplinary actions from the IRS office of enrollment, state board of accountancy and state bar associations.
Check the Service Fees of the Preparer
There are different ways by which tax preparers charge 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.
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