Presently, more than 150 million taxpayers seek the assistance of tax preparation services and this is enough to prove the kind of business it tends to be.
Many tax accountants and preparers take advantage of this growing need of people and try to lure them with low rate promises and fancy offers. However, they may even bombard them with lots of additional fees and hidden charges which would turn the matter into a nightmare for the assistance-seekers.
What to Avoid
So if you too are searching for tax accountants, here are some red flags about tax preparers which you need to avoid:
- Tax Preparers Without a PTIN:
According to IRS, anyone who prepares federal tax returns or even assists in preparing taxes should have a valid PTIN (Preparer Tax Identification Number).
In case your tax preparer does not present a valid PTIN, you are in the wrong hands.
- Tax Preparers Who Avoid Signing The Return:
It’s a requisite for the tax preparers to sign the returns (manually or electronically). And if they do not sign the returns, they are not the ones who should submit the returns.
- Tax Preparers Who Promise Unreasonably High Returns:
If your tax situation hasn’t changed much from the previous years, you can never expect any higher returns.
And in case your tax preparer promises an unreasonable return without any evidence, they owe a clear explanation before you sign the returns.
- Tax Preparers Who Demand Signing A Blank Tax Return:
Do not sign any blank tax return and ensure to read all the terms and statements carefully before signing any document.
- Tax Preparers Who Deposit Your Returns Into An Unknown Account:
There are various reasons why your tax preparers may want to deposit your returns in some unknown account and one of these is speed and convenience.
However, not only this is prohibited by the IRS but is also not safe.
- Tax Preparers Who Take A Percentage Of Your Refunds As Their Fee:
The fee of the tax preparers may depend on various factors such as the type of return and number of schedules etc. However, their fee is forbidden to be based on your refund percentage, and if this happens, you are more likely to land in a fraud case.
Therefore, ensure to ask about the fee of the tax preparers and avoid consulting those who demand a percentage of your refund as their fee.
Tax consultation services and tax preparers are myriad in nature. However, you should only consult the most reliable ones in your region.
For this, you need to keep in mind the above factors and stay away from those who do not prove their reliability.
And if you are looking for the most reliable tax consultation services in Orange County, you can get the best assistance from ‘EA Tax Resolutions’ which is one of the most reliable tax preparation services.
Get the best individual and business tax preparation services by experts and stay away from all the bothersome activities which affect your other major jobs.