Filing income taxes is a complex process. Preparing one’s taxes incorrectly can cause a lot of problems, from penalty fees to a mountain of bureaucratic paperwork. For this reason, many people seek out the help of tax advisors. However, many individuals who hire tax professionals don’t bother to find out the advisor they hired is qualified to help them. Here are four tips on how to find the best Income Tax Preparation in Renton.
Check For A Preparer Tax Identification Number
Anyone who prepares or helps one prepare their taxes is required by the IRS to have a Preparer Tax Identification Number (PTIN). Volunteer tax preparers are not required to have one of these numbers, so asking for one ahead of time is an excellent way to know the quality of the services that they provide. Additionally, one should be sure that their tax professional put their PTIN on the tax return they helped prepare.
Check Their Other Credentials
PTINs are not challenging to obtain, so another way to vet an income tax professional is to find out if they are a Certified Public Accountant (CPA) or see if they have completed the Annual Filing Season Program sponsored by the IRS. To be a CPA, one must undergo several years of training and participate in continuing education in the field. The Annual Filing Season Program holds its members to specific requirements, so one can be sure they are a qualified tax preparer.
Find Out Their Fees
Reputable tax preparers typically charge by the hour, so it is crucial for individuals seeking their services to ask for their rates up front. One should find out how much time the tax advisor thinks it will take and give an estimate on the cost. Typically, advisors who base their fees on the amount of money the return will be should be avoided.
Ask For Their Support
Getting audited is something that can happen to everyone. Reputable tax advisors can represent a person in front of the IRS if they are audited. Preparers who only have a PTIN are not able to do that, so be sure to find out if that’s something they’re capable of ahead of time.
The Bottom Line
Knowing how to find quality help with Income Tax Preparation in Renton is crucial. Tax season is a stressful time. The help of a qualified tax advisor can help reduce the anxiety around filing taxes.