June 5, 2012

One of the bigger questions that I have always pondered on is why taxpayers are uninterested in understanding the tax process especially when it directly affects them?  More and more, I'm learning that the issue doesn't lie with just the ill-informed taxpayer, but the tax preparer is held to a certain level of integrity and responsibility as well.  I find that tax preparers make the taxpayers feel so inferior that they are discouraged and likely uncomfortable to inquire about something that is so unfamiliar to them.

According to Thomson Reuters, choosing a tax preparer can be the most important decision one can make when tax situations arise.  The tax analyst for Thomson Reuters ask that all taxpayers consider the following six questions. Try this test and see how you will score...

1.) Is your tax preparer qualified?
2.) Do you know what your tax preparers' track record look like?
3.) Are you clear about how your tax preparer determines their fees?
4.) Are you providing adequate information for a proper return?
5.) Do you know what you are signing?
6.) Is your tax preparer reachable after mid-April?

KEY: 6 YES=you're in good hands
          3 YES/3 NO=do some outside research
          6 NO=mitigate risk by choosing another tax preparer

Leave a comment and let others know what you would like to see improve in the tax industry as it pertains to you.