Mistakes You Must Seriously Avoid When Tapping The Services of a Tax Preparation Service
If you own a business or makes income for your family, you know for a fact that paying taxes is a necessity; and with that in mind, the job of complying with it, including planning and preparation is quire burdensome, not to mention boring. The good news is that with the emergence of companies and services offering to do it for you, you no longer have to carry that burden all by yourself. But just like finding any type of contractor, you have to learn what the possible mistakes you can make in the hiring process, the purpose of which is for you to successfully avoid them.
So if you want the entire process to be carried out as smoothly as possible, knows these mistakes and avoid them:
1 – Hiring a company or individual who cannot show any proof that he or she is registered with the Internal Revenue Service. You must have realized by now that you never can hire someone who cannot show any Preparer Tax Identification Number. When it comes to the preparation of returns for compensation, the IRS does not allow anyone who isn’t registered and does not have a PTIN. So if you plan on hiring one who isn’t registered, you’re literally wasting your time.
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2 – Although not totally avoidable, we still recommend that you keep yourself away from hiring a preparer who instantly guarantees you get a bigger refund than expected. Remember that a refund is only possible based on certain and specific facts and circumstances, not the tax preparer’s ability to go around the process.
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3 – You never should pick a tax preparer who requires you to pay a small percentage of your refund. You never should even contemplate on accepting this kind of arrangement because if you do, they will easily increase the amount of your refund, the purpose of which is for you to pay them with a larger amount, too. The only fee you’re going to pay them is based on the number of forms as well as the schedules you require them to follow.
4 – Also, avoid someone who declines to sign the finished returns. This is one good way to gauge or measure the honesty and reliability of the tax preparation services you intend to hire. Keep in mind that all tax preparers, and we mean zero exceptions, are required to sign all the tax returns they are responsible for preparing, and this is an absolute rule by the IRS.
For you to successful in your search for a tax planning and preparation company, you need to arm yourself with the information provided above so that you won’t end up making any of those mistakes mentioned.