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IRS issues new regulations for tax preparers

By April 3, 2014August 28th, 20142014, Tax Tips

IRS issues new regulations for tax preparers


Tax season is already in high gear, and businesses should be mindful of new IRS regulations regarding tax preparation. Don’t forget to meet your deadlines and choose a competent business tax professional.

According to the IRS, all paid tax return preparers to have a Preparer Tax Identification Number (PTIN).  It is important to find out if the preparer is affiliated with a professional organization, and if so, if there are any disciplinary actions or complaints registered with the Better Business Bureau, state boards of accountancy for certified public accountants, the state bar associations for attorneys and the IRS Office of Enrollment for enrolled agents.

After confirming the preparer has a registered PTIN number, the next thing you should do is confirm they are experienced with business tax returns. Then find out about service fees and if the preparer offers electronic filing. The IRS recommends avoiding any preparer who base their fee on a percentage of your return. You should also make sure funds are deposited directly into your account or sent to you, not to the preparer. Electronic filing is safe and secure and should be used by anyone not specifically requesting a paper return. The preparer is required to sign the return per IRS regulations.

Let Accounting and Tax Solutions be an integrated part of your business. Let us use our experience, knowledge and expertise to be your trusted business advisor and ongoing part of your management team. Contact Accounting and Tax Solutions for a consultation (303) 232-8300.


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