The Art of Mastering Businesses

How to Choose a Tax Accountant When hiring a tax accountant, you have to find someone who is experienced in handling tax scenarios which are similar to yours. If the IRS is auditing you, for instance, find someone who has worked with audits before. Here are tips that can help you find the right professional: > Note that you still have the ultimate responsibility for your tax return, and not your accountant.
What Has Changed Recently With Professionals?
> Personal recommendations or referrals are the best way to find a tax accountant. > Careful with an accountant who promises to give you big refunds or says everything is deductible.
A Simple Plan: Services
> Retail tax franchises have competent tax accountants who can file relatively simple tax returns. Some tax preparers vary in terms of experience, and there can also be CPAs and Enrolled Agents working here. > Local, independent tax firms usually focus on individual and small business tax accounting within the area. See if they are experienced in handling your tax situation. > Enrolled agents are tax professionals who have passed IRS-administered written and background tests. EA’s are usually specialists in complex tax cases. > Certified Public Accountants (CPA’s) are accountants who are state-licensed after passing the tough CPA Exam. CPA’s specialize in a specific area that is related to accounting. Although some of them are tax accounting experts, not all CPA’s handle tax cases. CPA’s can also represent their clients during an IRS audit or collection. > Tax attorneys are lawyers whose specialty lies in tax law. > Tax attorneys, on top of their juris doctor degree, also have a taxation master of laws degree. Of course, attorneys are the ideal choice for those whose tax situations require legal expertise, like estate tax return preparation or when your case has to be taken to the US Tax Court or . What You Should Know About a Tax Accountant The tax industry never ceases to evolve, and tax professionals are government by several state and federal regulations. Make sure to ask your prospective tax accountant questions like: > What are your licenses or designations? > How long have you worked in the business of tax accounting? > What tax issues are you a specialist in? > Do you have what it takes to handle my tax situation? > What fees do I pay? > Do you outsource any part of the job? Do you do the job personally? If not, who’s handling the review process and whose signature appears on the returns? > About how long will you be able to complete my taxes? > What is your policy on privacy? Once you’re done with the interview, conduct a quick background check on the tax accountant you’re considering. To find out the status of a CPA or to know if he is or was the subject of a disciplinary action, contact your state’s board of accountancy. For enrolled agents, inquire from the IRS Office of Professional Responsibility if the EA may have been under disciplinary action.