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Getting Help Preparing Your Tax Return

Types Of Professionals Who Help Prepare Tax Returns

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Depending on your level of knowledge, the time and energy you have available, and the complexity of your situation, you might benefit from the use of a paid preparer. Paid preparers include:

A Tax Attorney:

  • Unless you've had past problems with the IRS or your tax situation is very complicated, you might not need this level professional to help you. If you do, start looking for one by asking at your local disease specific nonprofit organization. Generally, tax attorneys are the option that will cost you the most.

Accountant:

  • An accountant is often the best person to handle your return if your finances are relatively complicated. Particularly accountants with a CPA designation are usually familiar with the nitty-gritty of form filing, and have the credentials necessary to represent you at an audit. Plus, if you already have an accountant, he or she is likely the best person to do your taxes because of his familiarity with your overall financial situation. (See Choosing an Accountant)

Enrolled Agents:

  • Enrolled Agents are tax specialists who have completed rigorous training and passed an exam given by the IRS. Like tax attorneys, they can also represent you with the IRS. However, they're not as expensive. Visit www.naea.org offsite link to locate an enrolled agent.

Financial Planners:

  • Many financial planners do not prepare tax returns, but they are trained to give guidance and explain tax regulations to you. Some larger financial planning offices also employ tax preparers during tax season. (See Choosing a Financial Planner)

Income Tax Preparers:

  • Many people use this title. Their experience can include anything from having prepared only their own returns to experience preparing hundreds. If you use an income tax preparer, check their credentials and experience.

Questions To Ask A Professional You're Considering Asking To Prepare Your Tax Return

Regardless of what type of professional you use, here are some questions that may be useful to ask, depending on your particular situation.

  • Does the person have expertise in your area? For example, has he or she dealt with individuals who receive disability income or claim large medical deductions?
  • If you want to "push the envelope" on your return, how does he or she feel about it? "Pushing the envelope" is seeking to minimize taxes using edgy techniques rather than which have been accepted by the mainstream.
  • How does the person keep up with tax law?
  • How many returns did he or she prepare last year?
  • How much does he or she charge? (Reasonable fees are $75 to $200 per hour, depending on your location and the designation of the preparer. Some retail services charge by the form)
  • Does the person offer any guarantees? What if you get hit with a penalty because of an error they made? Will the person pay it? (Most reputable ones will)

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