Are you wondering how to choose a tax preparation service? You may keep several factors in mind while selecting a company to handle tax services in Lombard, IL. Accounting & Tax Advisors CPAs can help you review the key issues you need to know for tax prep. Call us at (630) 932-9600 to get started.
Work with the Right Kind of Tax Prep Professional
When considering how to choose a tax preparation service, keep in mind that not all tax professionals operate the same way. Technically, anyone with a PTIN (preparer tax identification number) can prepare your taxes.
However, it’s simple to get a PTIN. The professionals recommend that you work with credentialed tax prep professionals, such as:
- Licensed attorneys
- CPAs (certified public accountants)
- EAs (enrolled agents)
You may also work with a professional who completed the Annual Filing Season program offered by the IRS. These professionals understand tax law and can handle a wide range of tax-related issues. You can find return preparers with credentials by checking the IRS directory.
Review Fees for Tax Preparers
Looking at the directory of federal tax preparers cannot give you the prices charged by different companies. You may ask for prices before you agree to work with any tax professional.
Tax preparers around the country generally charge an average hourly rate of $138. Some preparers use a flat fee that averages out to $203. Other professionals start with a minimum fee and add additional costs if you have a complex return.
You can look for red flags when considering prices, as well. The experts recommend that you use caution with any tax preparer who adjusts their rates based on your refund’s size.
Look into E-Filing
E-filing allows tax professionals to quickly get your return submitted, often without a lot of fuss. All tax preparation services that handle 10 or more clients must submit their forms electronically.
Therefore, if your tax prep service does not offer to e-file your return, it can mean they are not preparing taxes for very many clients. You may decide you’d prefer to work with a tax preparer who has more experience in this situation.
Ensure Tax Preparers Sign Your Forms
Every tax preparation service should provide a PTIN and sign the returns they complete. You should not add your signature to a blank tax return in any situation. A blank return functions much like a blank check, allowing another individual to enter information freely.
Make sure that you speak with a tax preparer about how and when they will sign your form and enter their PTIN before you sign anything. You should also ensure they’ve completed the continuing education provided by the Annual Filing Season Program.
Learn More About Tax Prep Services
Find out how to choose a tax preparation service by contacting Accounting & Tax Advisors CPAs. We can answer all of your questions about the upcoming tax season, whether regarding small business tax problems or something more complex. Begin planning out your tax return by calling us at (630) 932-9600.