When the tax deadline comes near, everyone rushes to file their returns and that is where they feel a pressing need for a tax preparer. If you have not taken the services of a tax preparer earlier, you may have to do a lot of homework to find someone who is an expert. Here are a few things that you have to keep in mind:
How Much Qualified Is He?
It is the first thing that you should be discussing. A qualified CPA may be more updated about the regulations and he is required to go for continuing education if to make sure that his license remains valid. According to latest regulations, a tax preparer should have Preparer Tax Identification Number or PTIN. If any tax preparer doesn’t have this qualification then you should stay away from such professionals.
You should also familiarize yourself with different kind of tax preparers to find out the professional expertise and the education that they might have. IRS has made it mandatory for every tax preparer to take the IRS exam and also complete 15 hours of continuing education every year.
When you go with a registered tax preparer, he can help you when you get audited but he may not be helpful for you in other situations. But an enrolled agent for that matter can help you in any tax matter. They too have to pass the IRS exams and have to complete at least 72 hours of continuing educations in three years. And if you decide to go with a CPA he will have to be well versed with NYC tax planning to help you.
Have They Delivered Excellent Services In Past?
Having good qualification is a prerequisite but what if the person has a questionable history? You will surely want to know about it up-front to avoid getting mired in any complications later on.
IT is where IRS recommends that you check with the Better Business Bureau. You must find out whether any complaints are pending against a particular tax professional. Then you also need to be sure whether they been a subject to any kind of disciplinary action? Whether their license is up to date? You might get in touch with state accountancy board to get this information for accountants. IRS is the best place to check whether an enrolled agent is registered with it or not.
Will You Pay Just Any Fee?
Okay, now you have made efforts and have found a tax preparer to manage the things for you. But will you just pay anything in the fee? For a simpler return, you may have to pay a small amount. But what there are any complexities? Then the fee may run into a large sum. To this end, you must be clear from the beginning so that you can avoid any challenges later on.
Note: As per IRS suggestions you should stay away from those tax preparers who make it a percentage of the return filed.
In The End
These are a few things that you need to know when you are starting for NYC tax planning and searching for a tax preparer.
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