Every taxpayer is legally responsible for all the information entered on his or her tax return. Tax evasion is risky and is a crime, which can be punishable by a maximum of five years in prison and a fine of $250,000.
It does not matter who prepares the return, the taxpayer is ultimately responsible. Be sure you carefully choose your tax return preparer.
Top Ten Tax Tips (plus one)
- The law requires a paid preparer to sign the return and complete the information in the space provided for paid preparers.
- The preparer is required to provide you with a copy of the return.
- Check all information: name, address, and be sure you understand all the amounts before you sign.
- Never sign a blank return, or sign a return in pencil.
- You can file a power of attorney with the IRS and request the IRS send a copy of any correspondence to your preparer, or request that your refund check be sent to your preparer, even through only you can sign and cash the refund check.
- Check out who will prepare your return before contracting the service. Avoid businesses who delegate the work to an employee who did not interview you and may lack information necessary to prepare your return correctly.
- Select a preparer who will be available to assist you in the future, in case you receive correspondence from the IRS or your return is selected for audit.
- Avoid preparers who guarantee they can obtain a larger refund than other preparers. If your return is prepared correctly, any preparer should arrive at similar numbers.
- Check out your preparer's history with the Better Business Bureau, State agency for certified public accountants and the State Attorney General's office.
- Check your preparer's credentials, and insure the preparer meets your specific needs, whether for enrolled preparer, public accountant, or tax attorney.
- Check if your preparer is affiliated with a professional organization that provides or requires A their members to obtain continuing education and requires they adhere to a code of ethics.
Courtesy of The Friendship Foundation Of American-Vietnamese
5400 Detroit Ave.
Cleveland, Ohio 44102,