Competition for services remains fierce for the more than 50% of taxpayers who use a preparer at tax time. With about 150 million taxpayers seeking out tax preparation services, it’s a serious business. Preparers may lure taxpayers in the door with the promise of low rates and fancy promotions but quickly add on fees for their services bringing those “low, low rates” way, way up.
Other tax preparers are making promises that might not be legitimate. For example, preparers that claim you can get your refund faster by bringing in your last pay stub? Not if you’re e-filing. Per the IRS website:
Authorized IRS e-file Providers are prohibited from submitting electronic returns to the IRS prior to the receipt of all Forms W-2, W-2G, and 1099-R from the taxpayer.And it’s not just the act of submitting the returns without proper documents that’s banned: preparers aren’t even allowed to advertise that they can prepare returns without those documents. Those preparers who violate those rules may be subject to sanctions. If your preparer is willing to break those simple rules – and flaunt it – what other rules might they be violating?
Click here for more help, here are ten tax preparer red flags to avoid:
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