Industry Tips
Tax Preparations
The following comments provide general information for consumers, and do not necessarily reflect the practices or record of any particular company.
For routine tax returns, a national tax service may be for you. These franchise offices are all over the country. Each company has a set fee determined by the number of forms and lines that are filed.
You may consider using IRS e-file. Using tax preparation software you can prepare and electronically file. Upon receipt of your return, IRS computers check your information. Usually within 48 hours, the IRS acknowledges acceptance.
With a complicated return, you may want to hire a certified public accountant(CPA) or a tax attorney, They have more specialized training and in case of an audit, may represent you before the Internal Revenue Service (IRS). Tax attorneys and CPA's also may be able to give advice on tax and financial planning.
Do not be lured by companies that promise the "biggest refund". Fees should be based on the complexity of the return, not the size of tax savings or refund. For a fee, some preparers offer immediate payment. This is known as a Refund Anticipation Loan, often accompanied by high interest rates. Make sure that you are aware of and accept all the terms of this loan. No matter who prepares your tax return, it is still your responsibility. Don't sign the return unless you are certain it is accurate.
The IRS offers free tax assistance by IRS-trained volunteers, with specialized help available to address the concerns of the elderly. For the location and hours nearest you, call 1-800-829-1040.