The U.S. tax code
was already complicated, but lawmakers made last minute changes to tax forms
this year on top of new incentive programs that could reduce your tax burden.
Few homeowners have tracked them as closely as good tax professionals have.
“The
Internal Revenue Service will look to the taxpayer, not the tax preparer, if
auditors there think you don’t qualify for all the deductions or credits you
claim, so you want to be sure you hire a qualified, reliable professional,”
said Angie's List Founder Angie Hicks.
"The
best tax professionals follow legal changes as they happen and they can help
you get the most back from Uncle Sam. This is not the year to try to figure it
all out yourself."
Angie's List, the nation's
premiere provider of consumer reviews on local service
companies, including accountants and tax preparers went to the experts to determine how to get the most
from your tax return with the least amount of risk.
Only a few states require
tax preparers to be licensed, so that quality indicator may not be available to
everyone. Certified Public Accountants, tax attorneys and enrolled agents do
have license and training requirements.
“Don’t forget to check consumer reviews and references,” Hicks advised. “You
can learn a lot before you even call your prospective pro – do the research so
you can get the biggest refund possible without risking an audit.”
Angie’s List’s Tips for
hiring tax help:
- Hire help or go alone? It’s probably a good idea for most people with
simple tax situations to prepare their own returns. However, for those
with more complex situations, calling a professional is a better idea.
Consider having the same person prepare your taxes every year. The longer
you work together with someone, the more familiar they become with your
needs -- and the more likely they are to do a great job for you.
- Check credentials: Few states require tax preparers to be licensed
so it’s up to you to find a qualified and reliable professional. Good bets
are CPAs, tax attorneys, and enrolled agents – they are required to
undergo education and testing requirements. Ask the preparer about his/her
training. Will they represent you in case of an audit? Will you be able to
contact them after the return is filed? Reputable tax preparers will ask
to see receipts and will ask multiple questions to determine whether
expenses, deductions and other items quality. By doing so, they are trying
to help their clients avoid penalties, interest or additional taxes.
- Ask for an estimate: There is a wide range of tax preparers with
varying fees, so know up front what you’re paying for. Beware of preparers
who claim they can obtain larger refunds than other preparers. Fees are
generally determined by an hourly rate. Money-saving tip: Get all
your receipts organized and cut down on the amount of time your tax
preparer has to pour over your finances.
- Get references: Ask questions from clients who have used the
tax preparer before. Were they satisfied with their service?
Angie's
List asked its highly-rated accountants and tax preparers for tax season tips:
- Get organized: Compile all your documents and make an appointment early with your
preparer. Bring with you a copy of last year’s return. Make a list of
questions you want to ask the preparer. Make an appointment. You have a
better chance getting in mid-to-late February. March and April is a tough
time.
- Do your research: Visit the IRS online. It’s a great
resource for all the forms you need, as well as finding out what free
assistance might be available to help you navigate the process. You can
also learn about current tax schemes and scams.
- File electronically: Not only is it easier, it’s proven to be the
most accurate way of filing. You’ll also have a shorter wait time for your
refund. Also, have your refund direct deposited into your bank account. Be
sure to double-check your bank’s routing number and account number.
- Double-check your math and data entries, and
review your entire form: Math
errors are some of the most common mistakes on tax filings. Make sure your
Social Security and other identification numbers are correct. If you’re
filing a joint return, make sure you both sign and date the form.
- Check your return: Although the preparer signs the return, you are
responsible for the accuracy of every item. Read it carefully and ask the
preparer for a copy of the return.
- File even if you owe the IRS, but can't pay: Submit the tax return by the due date and
contact the IRS and ask if you can set up a payment plan. The IRS will
charge a fee to set up a payment plan, but if you can't pay all at once -
this is the best approach. Same applies to your state return.
*1,054 Angie’s List
members took our poll. Responses are representative of Angie’s List members,
but not the general public.
Angie’s List collects consumer reviews on local contractors
and doctors in more than 500 service categories. Currently, more than 1 million
consumers across the U.S.
rely on Angie’s List to help them make the best hiring decisions. Members get
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