01/13/2022
The start of the 2022 tax season is around the corner starting Monday, January 24th with individual tax returns due Monday, April 18th. If you will file an extension, those tax returns need to be filed by Monday, October 17th. Please take heed to the advice below.
ADVICE! I can't stress this enough to clients and potential clients when it comes to filing your taxes. Please review these helpful tips below:
- Please ensure you have your taxes done by a CPA or enrolled agent (EA), or by a professional organization, and that your tax preparer has to do continuing education.
-Another reason to use a CPA or EA to prepare your taxes is that they can represent you in case of tax audit. A tax prepayer without those professional credentials and just a PTIN can not help you in that situation.
-Beware of tax preparers promising you a large refund without even seeing your tax documents or knowing your tax situation.
-Beware of tax preparers that do not provide audit protection and identity theft protection as part of their tax preparation service to you.
-ALWAYS ALWAYS ALWAYS ALWAYS ALWAYS review your tax return and make sure you understand why you owe and especially understand why you are getting a refund then sign the tax return or sign electronically an e-file authorization form before your tax return is filed or mailed to the IRS.
-Vet your tax preparer or potential tax prepayer by checking to see if their CPA or enrolled agent license with state licensing boards is still valid as well as see if they have a valid Preparer Tax Identification Number (PTIN) at www.irs.gov.
-Be aware that anyone that has a PTIN does not have to be a CPA or EA. So their tax experience could potentially be less than that of a CPA and EA.
-Beware of tax preparers that charge you a fee based on your refund amount. Get upfront prices before allowing them to work on your tax return!
-NEVER NEVER NEVER NEVER NEVER sign a blank return!!!
-Always make sure before you sign a tax return or electronically e-file authorization form that your tax preparer's PTIN is showing on those documents. You can look up how many returns that tax prepayer has filed and whether or not their PTIN is valid at www.irs.gov. Also if no PTIN is on the tax return that is a red flag to stop working with them.
-ALWAYS ALWAYS ALWAYS double check then double check again that your refund is going to your bank account and that is the correct bank number.
- Get a tax preparer that you can have access to either in person, by phone, by text, or email all year-round. Beware of tax prepayers that pop up during tax season but you can't get a hold of them the rest of the year.
- Lastly ask ask ask questions of your tax preparer. If they are not taking the time to educate you to empower you, legally, as far as the tax law is concerned then they are doing you a disservice.
-Lastly, YOU, the taxpayer is ultimately responsible if you get audited and owe the IRS more money due to you paying a bad tax preparer that misinterpreted the tax law or tried to manipulate the tax law in order to get you a bigger refund when you sign a tax return by hand or electronically. YOU cannot pass that blame to your tax preparer, specifically, that new tax liability because the onus is on YOU, the taxpayer, to review your return before it is filed. (Only if your identity is stolen or you can prove a tax preparer filed your tax return without your consent or knowledge will there be course of action to make them liable instead of YOU.)
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