Helpful Hints when choosing a Return Preparer to ensure you don't hire an Abusive Return Preparer
IRS Criminal Investigation (CI) reminds you:
· Taxpayers are responsible for the accuracy of all entries made on their tax returns, which include related schedules, forms and supporting documentation. This remains true whether the return is prepared by the taxpayer or by a return preparer.
· Be careful in selecting the tax professional who will prepare your return. Some basic tips and guidelines to assist taxpayers in choosing a reputable tax professional are:
- Avoid return preparers who claim they can obtain larger refunds than other preparers.
- Avoid preparers who base their fee on a percentage of the amount of the refund.
- Use a reputable tax professional that signs and enters a preparer tax identification number (PTIN) on your tax return and provides you with a copy for your records.
- Consider whether the individual or firm will be around to answer questions about the preparation of your tax return, months, even years, after the return has been filed.
- Never sign a blank tax form.
- Ask questions. Do you know anyone who has used the tax professional? Were they satisfied with the service they received?
- Tax Evasion is a crime, a felony, punishable up to 5 years imprisonment and a $250,000 fine.
When in doubt, check it out! Taxpayers hearing claims from preparers offering larger refunds than other preparers are encouraged to check it out with a trusted tax professional or the IRS before getting involved.
This article is collated (from IRS web site) by VXL Services.
VXL Services is recognized for its comprehensive service offerings and includes Accounting, Tax Preparation and planning, Payroll and CFO/Controller services. Their web site is www.vxlservices.com
If you have any questions regarding his article or would like to inquire about VXL Tax Planning and Preparation services please contact Prakash Iyer CPA at (732) 983 - 4150 or at firstname.lastname@example.org.