A Quick Guide to Tax Preparers

A Quick Guide to Tax Preparers

The Tax season is yet again upon us and we are all hustling to get our records and documents straight. It is realised that the taxation body, that is the IRS, takes notice of every folly that our tax returns might have. This not only raises the stakes this season but also raises the alarm that we need to get our taxes done from the best tax preparers near you, with the optimum qualifications.
Though tax preparers are allowed to function without an appropriate licence, the IRS warns against faults in tax returns which are the ultimate responsibility of the individual as opposed to that of the tax preparer. This makes it important to ensure that the best tax preparer is selected for you. The IRS hence recommends a set of guidelines for an eligible tax preparer-
1. Each tax preparer needs to have an IRS PTIN (Preparer Tax Identification Number) to be a legal tax preparer.
1. Unlimited Representation Rights- Enrolled agents, certified public accountants, and attorneys have unlimited representation rights before the IRS. Tax professionals with these credentials may represent their clients on any matters including audits, payment/collection issues, and appeals.
1. Limited Representation Rights- Some preparers without one of the above credentials have limited practice rights, that is, they may only represent clients whose returns they prepared and signed, but only before revenue agents, customer service representatives, and similar IRS employees. Tax return preparers with limited representation rights include Annual Filing Season Program Participantsand PTIN Holders.
* Software for tax preparer
Tax software is a type of computer software designed to help individuals or companies prepare for and file income, corporate and similar tax returns. Tax returns are expected with an accuracy that computer softwares can well provide. With some training and practice, tax softwares help us to calculate and file our taxes with ease.
Various softwares for tax preparers are available in the market for use. Individuals as well as tax preparers can use softwares like-
1. Tax Softwares 2. TurboTax 3. H&R Block 4. TaxAct 5. TaxSlayer Classic 6. Credit Karma Tax 7. FreeTax USA
* IRS certified tax preparer
To help individuals and companies determine tax return preparer credentials and qualifications, the IRS has a public directory<irs.treasury.gov/rpo/rpo.jsf> containing certain tax professionals. The searchable, sortable database includes the name, city, state, and zip code of attorneys, CPAs, enrolled agents, enrolled retirement plan agents, and enrolled actuaries with valid PTINs for 2016, as well as Annual Filing Season Program Record of Completion recipients.
Choosing the correct tax preparer for you is essential to make sure that your tax returns are accurate. Inaccuracy in tax returns is not only illegal by law but also results in potential losses to the individual and to the company. We at NTPA (National Tax Preparers of America), ensure that your taxes are prepared and filed accurately, easing your way through tedious tax preparatios.
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