Choose a tax preparer you can trust with these tips

Tax season is back, which means sorting out expenses, deductions, tax breaks and more. Filing your tax returns can be a daunting task, and getting it right is key. Tax preparers can be a great help, providing knowledge and experience on various tax codes and laws. But not all tax preparers are created equal, and not all have your interests at heart.

If you’re looking for a tax preparer this year, there are several key things to keep in mind. By choosing correctly, you’ll get all the tax relief you’re owed, maximizing your return or minimizing what you owe while protecting your financial health.

Check their qualifications

Tax preparers must obtain a tax identification number of the preparer from the Internal Revenue Service. Preparers must pass checks with the federal government and they must renew their number every year to keep it valid. These numbers are different from licenses, as some states require tax preparers to earn compensation for preparing tax returns. The preparer must write this number on each return he files.

Make sure you understand their fees

Tax preparers have different methods for setting their fees, so be sure to ask and understand how you will be charged for their work. You can shop around and compare to maximize value. the The IRS advises against use a processor that bases fees on a percentage of the refund or makes guarantees or claims about your refund over competitors.

Check your career path

It is crucial to work with a reputable tax preparer. This person will have access to large amounts of your financial data and your social security number. You shouldn’t give this information to just anyone and be on the lookout for tax preparers who pop up in your community just for tax season. You can use resources like Better Business Bureau Investigate a tax preparer’s reputation and make sure you are dealing with an honest person.

Stay vigilant even after making your choice

Keep an eye out for some red flags when working with your preparer. Perhaps the biggest warning is a request to sign a blank tax return. A reputable tax preparer will never ask you to do this. They should also allow you to review the statement and offer to submit it electronically for you. Finally, if you get a refund, check the bank account numbers the money is supposed to be deposited into to make sure your money ends up where it belongs – with you.

Make sure they are available after deposit

Your relationship with your tax preparer does not end once your return is filed. Before choosing one, make sure that they will still be available after filing to help you in case of an audit. Reputable professionals know it’s part of the job and are ready and willing to answer questions or offer assistance after filing.

Look for preparers who understand you

This tip is especially important if you have a unique or particularly complex tax return. Completing a simple tax return is a fairly straightforward task, and just about any preparer can do it. But, if you are self-employed, have a lot of deductions, or have additional complicating factors, you should find a tax preparer who has experience with similar types of returns. This experience is invaluable when it comes to doing your taxes right.

Tax season can be stressful and confusing, but it doesn’t have to be an unpleasant experience. Armed with the right questions and expectations, you can find a tax preparer who will work with you to get the best possible results for you, your family, and your money.

Finance FYI is presented by 1st Security Bank.

AT Washington’s 1st Security Bank, we take a personalized and personal approach to your financial well-being. We live in the communities we serve, so our branches offer tailored solutions to their communities. We believe relationships make the difference, which sets 1st Security Bank apart.