8 Tips to Hire the Right Tax Relief Team for Your Needs
Searching for a team to help you with any financial assistance, specifically your taxes can be quite daunting and intimidating. Some of us may not know what to look for when it comes to preparing our taxes and most of us look for the wrong things just based on what we don’t know.
Trust issues can be a factor when searching for a tax relief team, how reputable they are can also come into play because we don’t want just anyone handling our money, especially if a mistake can come back to haunt us years later. That’s why it’s so important to find someone who offers the right services when it’s tax time.
Here are some things to look for when choosing the right tax relief team. However, continue to research until you feel completely comfortable with who you entrust your personal business to, it will pay off in the long run and this is a relationship that can grow and be cultivated years down the line.
There’s nothing more comforting than giving your business to someone that you’ve known for years and someone that you trust.
- Do they have a preparer tax identification number
- They have tax attorneys on staff
- They have money-back guarantees
- They have sufficient staff
- Do they have a good accreditation
- How do they determine their fees
- Can they explain to you what will happen if you get audited
- Know their background
DO THEY HAVE A PREPARER TAX IDENTIFICATION NUMBER:
This is the first thing you would want to know. Does your team have a preparer tax identification number (PTIN)? Any tax preparer must have a valid PTIN in order to prepare returns for their clients. This is definitely not something you want to learn in the end after you’ve paid your fees and so forth.
THEY HAVE TAX ATTORNEYS ON STAFF:
This should be the most important step that you research. If a company doesn’t have a tax attorney on staff to represent their clients, I would think twice and very hard about deciding to let them handle my finances.
If something should come up later down the line that you may need representation for, the company that you choose should have the means to assist you in this area. Any company that claims to have a tax attorney, make them prove it and don’t just take their word for it.
Find out how many attorneys they have on staff and check their licenses with the Bar association and make sure that the company that says they work with them is truthful. You may also want to check to see if they have any complaints, misconduct, or disciplinary actions in their file.
THEY HAVE MONEY-BACK GUARANTEES:
You can always get a free first consultation with a tax relief company. Make sure you question them about money-back guarantees in the event that you aren’t satisfied with their service. Some companies will give you a couple of weeks when a guarantee is involved; however, continue to do your research during this time.
You may consider reading: 5 Telltale Signs an Applicant Is Not the Right Person for the Job
THEY HAVE SUFFICIENT STAFF:
You would want to make sure that the company you choose has sufficient staff that is credentialed and licensed. Can you imagine choosing a company with a staff of three and hundreds of clients? You definitely wouldn’t get the attention you needed nor would it be in a timely manner. Precision Tax Relief has a plethora of services and staff to assist you.
DO THEY HAVE A GOOD ACCREDITATION:
Choose a company whose accreditation is noteworthy. Make sure that they are members of the National Association of Tax Professionals. Read reviews of the company, and make sure their agents are certified by The National Association of Enrolled Agents.
HOW DO THEY DETERMINE THEIR FEES:
How will your tax team determine your fee? What is included and what is not. First and foremost be wary of preparers who will base their fee on a percentage of your expected refund: Most have a financial motivation to encourage inappropriate credits and deductions that may later get you an audit. Your fee may be based on the difficulty of your return
CAN THEY EXPLAIN WHAT WILL HAPPEN IF YOU GET AUDITED:
Why would a person get audited? The IRS will audit someone to reduce the tax gap, meaning; there’s a gap in what the IRS is owed and what is actually received. Sometimes audits can be completely random, but oftentimes it’s due to suspicious activity.
The IRS will spot red flags which will lead to an audit. Some of those red flags include math errors, claiming too many charitable donations, failure to report income, or claiming a home office deduction. The IRS has three years to audit you after your taxes have been filed.
When you get audited, you can be audited by mail which basically you may need to provide certain paperwork. In-office audits you may need to report to your local tax office to give a more detailed explanation than what a document receipt can provide.
Lastly, field audits are where a tax representative may come to your home or place of business to conduct a more thorough investigation. This type of audit usually happens when there are major red flags raised on your return. In any case, you want to make sure that you’re represented by a company that can walk you through this process so you come out unscathed.
KNOW THEIR BACKGROUND:
Knowing your Tax relief team’s background is important. Don’t be fooled by letterhead and business cards. Anyone can create those but not all are qualified for the title.
Whatever services your team provides, get a clear explanation of how it will benefit you and who is in charge of it. Continue to do your research on the company as well as the people. Make sure you’re not handing over your financial documents to someone who is not worthy of someone who will put you in a position to be audited or put you in a position to lose.
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