What are the responsibilities of a Tax Preparer professional?
What are the responsibilities of a Tax Preparer professional
?
Tax preparers can do returns for an individual tax payer or a business. The tax preparers ensure that the returns are filed accurately, in accordance with taxation laws and IRS policies. Thus, they should be knowledgeable and up-to-date with tax laws and its current modifications. They must attend the mandatory continuing education requirements given by the state.
They should have a thorough understanding of the requirements for deductions and credits and explain these requirements to their clients. They fill out the client's tax forms with the appropriate deductions and income information to keep taxes as low as possible. They may offer advice to the tax payer on how to achieve a bigger refund or smaller balance for next year
A tax preparer interviews the individual client or business owner to determine income, expenses and taxable deduction information to use on the tax forms. The tax preparer reviews the client's financial information and prepares the necessary supporting documents.
Tax professionals check the data on the tax form to ensure that it is correct. Rechecking data also includes tax calculations to ensure that the tax form is accurate. He should work hand in hand with the client to ensure that all entries are correct.
A tax preparer must be honest and ethical. He should never suggest that clients underreport income to become eligible for tax credits or claim a deduction for a client that doesn't meet the requirements. They must ensure that their clients understand every entry on the tax form before asking them to sign it. They must be ready to answer and explain any client's queries. Most of all, he must be there to represent his client if an audit is involved. They must also treat their client's sensitive information securely and privately.
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