Although you may not be preparing your own tax return, you’re
nevertheless lawfully liable for what exactly is on it. Listed below are 10
tips to take into account when selecting a tax preparation outsourcing company :
1. Verify the outsourcing company’s skills. Just about all
paid tax preparers need to have a Preparer Tax Identification Number (PTIN). In
conjunction with ensuring they possess a PTIN, inquire with the preparer whether
they have enrolled in any continual training programs.
2. Take a look at the preparer’s background. Obtain
recommendations from friends and relatives; however confer with the BBB to
check the tax preparation outsourcing company’s report. Or perhaps, select a
BBB Certified Business. Look for disciplinary measures and license statuses
with the IRS.
3. Inquire about service charges. Stay away from preparers
who base their service charge on a sharing basis of your tax refund or perhaps
those that express they are able to secure more substantial refunds as compared
to others. Always be certain that any kind of refund pending is sent out to you
or transferred into your banking account. Taxpayers should never deposit their
tax refund into the preparer’s account.
4. Request to e-file your return. Ensure your preparer
provides IRS e-file. Any kind of tax preparation company that prepares as well
as files greater than ten returns for customers usually needs to file the
returns electronically.
5. Ensure the preparer is easily accessible. Be certain that
you’ll have the means to get in touch with the tax preparer once you file your
return - even post the April 15th due date. This is often beneficial in case
queries crop up regarding your tax return.
6. Present records and statements. Superior tax preparers are
going to demand your records as well as statements. They’ll investigate a
little to figure out your overall earnings, deductions, tax credits as well as
other crucial things. Be careful not to make use of a preparer that is ready to
e-file your return by means of your last pay stub as opposed to your Form W-2.
This actually is against IRS e-file guidelines.
7. By no means sign a blank tax return. Don’t employ a tax preparation outsourcing company that
suggests you to sign a blank income tax form.
8. Assess your return before putting your signature on. Prior
to deciding to sign your tax return, assess it and inquire in case anything is
unclear at that time. Ensure that you’re at ease with the accuracy and
reliability of the return prior to signing it.
9. Make sure the tax preparer signs and incorporates their
PTIN. Tax preparation outsourcing firms need to sign returns and incorporate
their PTIN as necessary by legislation. They also need to provide you with a
copy of the tax return.
10. Report fraud tax preparers to the IRS. It is possible to
complain regarding fraud tax preparers and presumed tax fraud to the IRS. Make
use of form no. 14157, Grievance: Tax Return Preparer. In case you contemplate a
return preparer submitted or modified the return without your permission, it is
important to file Form 14157-A, Return Preparer Scam or Malfeasance Affidavit.
