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Tax

Tax Preparer Miami – Ten Tips To Choose Right One

Tax Preparer Miami – Ten Tips To Choose Right One

Many people look for help from professional Tax Preparer Miami when it’s time to do their Tax Preparation. If you use a paid Tax Preparer Miami to do your Tax Preparation this year, the IRS urges you to choose that Tax Preparer Miami wisely. Even if the Tax Preparer Miami is prepared by someone else, the taxpayer is legally responsible for what’s on it. So, it’s very important to choose your Tax Preparer in Miami carefully.

This year, the IRS wants to remind taxpayers to use a Tax Preparer Miami who will sign the returns they prepare and enter their required Tax Preparer Miami Tax Identification Number (PTIN).

Here are ten tips to keep in mind when choosing a Tax Preparer Miami firm:

1. Check the preparer’s qualifications. New regulations require all paid Tax Preparer Miami to have a tax preparer Tax Identification Number. In addition to making sure they have a PTIN, ask if the Tax Preparer Miami is affiliated with a professional organization and attends continuing education classes. The IRS is also phasing in a new test requirement to make sure those who are not an enrolled agent, CPA, or Tax Preparer Miami firm have met minimal competency requirements. Those subject to the test will become a Registered Tax Preparer Miami once they pass it.

2. Check on the Tax Preparer Miami history. Check to see if the Tax Preparation Miami firm has a questionable history with the Better Business Bureau and check for any disciplinary actions and licensure status through the state boards of accountancy for certified public accountants; the state bar associations for attorneys; and the IRS Office of Enrollment for enrolled agents.

3. Ask about their service fees. Avoid Tax Preparer Miami who base their fee on a percentage of your refund or those who claim they can obtain larger refunds than other preparers.  Also, always make sure any refund due is sent to you or deposited into an account in your name.  Under no circumstances should all or part of your refund be directly deposited into a preparer’s bank account.

4. Ask if they offer electronic filing.  Any paid Tax Preparation Miami firm who prepares and files more than 10 returns for clients must file the returns electronically, unless the client opts to file a paper return.  More than 1 billion individual tax returns have been safely and securely processed since the debut of electronic filing in 1990.  Make sure your preparer offers IRS e-file.

5. Make sure the Tax Preparer in Miami is accessible.  Make sure you will be able to contact the Tax Preparation Miami firm after the return has been filed, even after the April due date, in case questions arise.

6. Provide all records and receipts needed to prepare your return. Reputable Tax Preparer Miami will request to see your records and receipts and will ask you multiple questions to determine your total income and your qualifications for expenses, deductions and other items. Do not use a Tax Preparation Miami firm who is willing to electronically file your return before you receive your Form W-2 using your last pay stub. This is against IRS e-file rules.

7. Never sign a blank return. Avoid Tax Preparer in Miami that ask you to sign a blank tax form.

8. Review the entire return before signing it.  Before you sign your tax return, review it and ask questions. Make sure you understand everything and are comfortable with the accuracy of the return before you sign it.

9. Make sure the Tax Preparation Miami firm signs the form and includes their PTIN.  A paid Tax Preparer Miami must sign the return and include their PTIN as required by law. Although the Tax Preparer Miami signs the return, you are responsible for the accuracy of every item on your return.  The preparer must also give you a copy of the return.

10. Report abusive tax preparers to the IRS. You can report abusive tax preparers and suspected tax fraud to the IRS on Form 14157, Complaint: Tax Return Preparer. Download Form 14157 from www.irs.gov or order by mail at 800-TAX-FORM (800-829-3676).

Categories
Tax

Ten Tips to Help You Choose a Tax Preparer in Miami

Choose your Tax Preparer in Miami wisely

Many people look for help from professionals when it’s time to file their tax return. If you use a paid tax preparer in Miami to file your federal income tax return this year, the IRS urges you to choose that preparer carefully. Even if someone else prepares your return, you are legally responsible for what is on it.

Here are ten tips to keep in mind when choosing a tax preparer in Miami:

1. Check the preparer’s qualifications.  All paid tax return preparers are required to have a Preparer Tax Identification Number. In addition to making sure they have a PTIN, ask if the preparer belongs to a professional organization and attends continuing education classes.

2. Check on the preparer’s history.  Check with the Better Business Bureau to see if the preparer has a questionable history. Also check for any disciplinary actions and for the status of their licenses. For certified public accountants, check with the state boards of accountancy. For attorneys, check with the state bar associations. For enrolled agents, check with the IRS Office of Enrollment.

3. Ask about service fees.  Avoid preparers who base their fee on a percentage of your refund or those who claim they can obtain larger refunds than other preparers can. Also, always make sure any refund due is sent to you or deposited into an account in your name. Taxpayers should not deposit their refund into a preparer’s bank account.

4. Ask to e-file your return.  Make sure your preparer offers IRS e-file. Any paid preparer who prepares and files more than 10 returns for clients must file the returns electronically, unless the client opts to file a paper return. IRS has safely and securely processed more than one billion individual tax returns since the debut of electronic filing in 1990.

5. Make sure the preparer is accessible.  Make sure you will be able to contact the tax preparer after you file your return, even after the April 15 due date. This may be helpful in the event questions arise about your tax return.

6. Provide records and receipts.  Reputable preparers will request to see your records and receipts. They will ask you questions to determine your total income and your qualifications for deductions, credits and other items. Do not use a preparer who is willing to e-file your return by using your last pay stub before you receive your Form W-2. This is against IRS e-file rules

7. Never sign a blank return.  Avoid tax preparers that ask you to sign a blank tax form.

8. Review the entire return before signing.  Before you sign your tax return, review it and ask questions. Make sure you understand everything and are comfortable with the accuracy of the return before you sign it.

9. Make sure the preparer signs and includes their PTIN.  A paid preparer must sign the return and include their PTIN as required by law. The preparer must also give you a copy of the return.

10. Report abusive tax preparers to the IRS. You can report abusive tax preparers and suspected tax fraud to the IRS on Form 14157, Complaint: Tax Return Preparer. If you suspect a return preparer filed or altered a return without your consent, you should also file Form 14157-A, Return Preparer Fraud or Misconduct Affidavit. Download the forms on the IRS.gov website or order them by mail at 800-TAX-FORM (800-829-3676).

Categories
Tax

Tax CPA Exempt From IRS Competency Test

Tax CPA Exempt From IRS Competency Test

The Internal Revenue Service today marked the third anniversary of its groundbreaking Income Tax Preparer in Miami initiative and urged those paid Tax Preparerrequired to pass a new competency test to take the test as soon as possible with the exemption of Tax CPA and Attorneys.

Three years ago the IRS took its first step toward ensuring standards for competency, continuing education and ethics would apply to all paid Income Tax CPA. Major facets of the initiative are now in place.

On June 4, 2009, IRS Commissioner Doug Shulman launched a six-month review focusing on the competency and conduct of paid Tax CPA. The review resulted from a recognition that paid Tax CPA were an important element in the integrity of the nation’s tax system.  The review included a series of public hearings with the Tax CPA community, consumer advocates, oversight groups and taxpayers.

Six months later, the Tax CPA Review laid out a series of recommendations to extend oversight to certain areas of the preparer industry to enhance tax compliance and service to Taxpayers.

Among the initiative highlights:

Mandatory registration and use of a Preparer Tax Identification Number (PTIN): Anyone who is paid to prepare, or help prepare, all or substantially all of a federal tax return now has to register with the IRS and obtain a PTIN, as do all enrolled agents. The PTIN is valid for a calendar year and must be renewed annually. Almost 850,000 tax preparers have registered since the requirement began.

Competency Test: In November 2011, a 120-question basic competency test was launched. Certain Tax CPA are required to take the test by Dec. 31, 2013, to stay in business. The IRS urges an estimated 340,000 preparers required to take the test to do so as soon as possible to give themselves more time if they have to retake the test and to avoid a potential flood of last-minute test takers. Certified Public Accountants, Enrolled Agents and attorneys are exempt from the test because they already have other testing requirements as part of their credentials. Certain non-signing preparers supervised by Tax CPA, EAs or attorneys are exempt, as are non-1040 preparers.

Continuing Education (CE): The roughly 340,000 tax preparers who have a testing requirement also have a new requirement to complete 15 hours of continuing education courses each year. The CE credits must include 10 hours in federal Tax law, three hours in federal Tax law changes and two hours in ethics. This requirement became effective January 2012 and it applies even if the preparer has not yet taken the test. There are now hundreds of outlets offering IRS-approved CE courses. More details are available at www.irs.gov/Taxpros/ce.

Ethics and Tax Compliance: Ethical requirements that previously applied only to CPAs, EAs and attorneys now apply to all paid Income Tax Preparer in Miami. All paid tax preparers also will undergo a tax compliance check and are subject to the standards for practice outlined in Treasury Department Circular 230.

Registered Income Tax Preparer: Tax Preparers who pass the competency test and tax compliance check are given a new credential: Registered Tax Income Tax Preparer. To date, over 4,800 people have become Registered Income Tax Preparer.  Beginning in 2014, only Registered Income Tax Preparer, Enrolled Agents, Certified Public Accountants, and attorneys will be authorized to prepare individual Income Tax returns for compensation.

Public Database: The IRS also will create a publicly searchable database that will allow Taxpayers to see if their Tax CPA have met IRS standards or to find a Tax CPA in their zip code area. The IRS will have a public education campaign to inform taxpayers to use only Tax CPA, EAs, attorneys or Registered Income Tax Preparer in Miami if they pay to have their taxes prepared.

The database will also show any credentials held by the tax preparer, including the new RTRP credential, as well as those who are EAs, Tax CPA and attorneys.

The RTRP competency test is available at more than 260 vendor testing centers nationwide. Tax Preparers can determine if they have a test requirement by going to their online PTIN Account at www.irs.gov/ptin. Preparers also can set a test date, time and location through their online PTIN Account.