Find a Good Tax Professional With the IRS Guide
Paying your taxes on your own can be a nightmare, but if you’re going to hire someone to prepare them for you, you need to be selective . After all, you are still waiting for any information they report to the IRS .
According to the Government Audit Office , tax errors are generally quite common, but they are even more common when you hire a tax professional. According to the report:
Tax returns prepared by tax preparers had a higher estimated error rate (60 percent) than self-prepared tax returns (50 percent). Errors refer to changes in the tax payable or the refund amount.
Referring to this report, Bloomberg explains that while there are many informed tax preparers who are familiar with tax law, almost anyone can claim to be a tax preparer. They report:
… no CPA, law degree or formal education required. Pretty much the only thing you need to open a store is a tax identification number, which the IRS issues for a $ 50 fee.
If you are looking to hire a professional, you must make the right choices, and the IRS Director of Training is a good place to start.
They launched the tool about a year ago, and it includes a database of tax professionals who voluntarily provided proof of their credentials. The database also includes “registered agents,” which means that tax fillers go through at least 72 hours every three years. Check out the tool below, then read more on how to find a reliable tax professional in the full Bloomberg post.