Posts Tagged ‘choosing a tax preparer’

Is It Time For You To Finally Start Working With A Tax Preparer?

Tuesday, January 26th, 2016

The exclusive purpose for the information which is provided from this website is to disseminate information, and not to provide tax advice. 

You have no doubt recently read information about the declining levels of support that is being provided by the Internal Revenue Service.  The U.S. Congress has reduced their budget significantly and the IRS has decided to reduce their number of staff, professionals, and support personnel.  Insofar as “support” is concerned, this is probably most apparent in our inability to speak with a representative using the “1-800″ number to obtain answers to our tax questions, or the length of time that we are required to remain “on hold” in the telephone queue.  In stark contrast to the realties of this situation, I have found no authoritative source that has gone on record to state that the IRS has reduced their level of  required compliance with all of the tax laws nor has their been an increase in the number of allowable errors or omissions in a tax return.  The allowable error rate remains at ZERO!

In addition to the above facts, taxpayers are being subjected to (this is not a complete list) fraudulent activities such as tax scams, phishing, persons impersonating charitable organizations, persons claims to obtain free money for you from the IRS, tax return preparer fraud, threatening telephone calls, someone fraudulently filing your own tax return for you and obtaining your tax refund, fraudulent e-mails that appear to be authentic with malware or virus laden attachments, identity theft, telephone calls with phony arguments, and others calling you to inform you that you owe the IRS delinquent taxes and that your property will be seized today if you do not pay them immediately.

The IRS has always utilized the U. S. Postal service to provide you with your written initial notification that there are issue(s) with your income tax return.  They do not use the Internet nor do they use e-mails.  Period!

Given the above facts and information, there are several different groups in which most taxpayers can be classified:

1.  You are not required by law to file a tax return.  However, you may file as an option to recover Federal or state income taxes that have been withheld, or a tax refund for which you are legally due (refundable tax credits);

2.  You are required to file a tax return but you have a relatively simple tax situation.  You can file your own tax return yourself using the IRS’s “Free File” (or similar) system;

3.  You have been filing your own tax returns in the past but you have determined that you will need some (or a significant level of ) assistance in filing your tax returns now;

4.  You are already working with an Enrolled Agent,  tax attorney, or CPA.

If you now consider yourself to be in group or category #3 above, the following information may be beneficial for you:  (more…)

Is It Finally Time To Have A Tax Preparer Prepare Your Tax Returns?

Wednesday, February 5th, 2014

The exclusive purpose for the information which is provided from this website is to disseminate information, and not to provide tax advice. 

For several years now the key provisions of many of the Federal income tax laws are continuously being changed each year.  Some of the changes are minor, others are not.  It is reasonable to expect that more annual tax law changes will be forthcoming for the remainder of this decade as the Federal government attempts to reduce the trillion-dollar budget deficit by increasing tax revenues.  You can also expect that the complexity of the income tax laws will be concurrently changed.  Most tax practitioners share the view that the current Federal administration is focused on increasing the taxes for those taxpayers who are in the higher income tax brackets, especially if your combined annual family income, from all sources, is above $200,000.00/year.  It is possible for this income threshhold to be lowered in the future. 

Tax preparers are required by both Federal and State regulations to continuously stay abreast of most tax law changes, but they must also be knowledgeable of all the tax law changes that will affect their tax clients.  While a tax preparer can prepare your tax returns for you, a tax practitioner can can also analyze your current tax situation and then provide you with options and recommendations to reduce your annual tax liability.