When tax software isn’t enough
If your taxes seem a bit complicated this year (especially with all the new tax laws), or if you’ve had changes that require expertise beyond what you know how to do, it might be time to call in reinforcements.
You have a number of choices for getting help with your taxes.
•Call the IRS. You can ask individual tax questions by calling 1-800-829-1040 or business-related tax questions at 1-800-829-4933.
•Go to a tax preparer such as H&R Block. While the tax preparers probably don’t have advanced degrees like attorneys or CPAs, the service is inexpensive and can save you money if extra deductions are found. The additional good news is that returns are double checked by computer, so math errors aren’t likely.
•Use an Enrolled Agent. EAs are federally licensed to represent you if you’re faced with an IRS audit or have problems because of back taxes. Some of them prepare tax returns and generally charge less than a CPA or tax attorney. Enrolled Agents are required to take a tax-law exam and complete continuing education, and most are former IRS agents. To check out an EA, call the National Association of Enrolled Agents at 800-424-4339 to find an agent in your area, or see www.naea.org.
•Hire a Certified Public Accountant. If you have a new small business and feel you need a CPA, you’ll have a hard time finding one this time of year. Most likely you’ll be told that all a CPA can do for you right now is file an extension. Your best bet is to find one before or after tax season and become a regular client for your filings. To find a CPA in your area, call the American Institute of Certified Public Accountants at 888-999-9256.
•Consult a tax attorney if you’ve been audited or have an extremely complicated tax situation. A tax attorney can advise you on setting up trusts or selling a business. Check Martindale-Hubbell’s directory at www.martindale.com to find a tax attorney. (Once you get the expensive advice, perhaps a CPA can do the documents for less money.)
No matter who fills out your tax return, you’re still responsible for any errors. Do the math, and double-check your personal information and Social Security number. Don’t forget to sign your return.