As a savvy taxpayer, you know that Uncle Sam has his eyes on you.
What you may not know is that Uncle Sam is also watching your tax preparer. And closely.
That’s right. The tax law makes tax preparers part of the IRS tax compliance workforce and expects them to do their job correctly and help enforce the tax laws. If they don’t, they face a wide range of costly penalties that can affect your taxes.
Want to learn how you and your tax preparer can avoid costly penalties and stay out for trouble?
Easy. Read my new article titled Tax Tips: Are Tax Return Preparer Penalties Increasing Your Taxes?
Three ways our fact-filled article can help you:
- You’ll learn why “administrative penalties” can actually help you. These penalties were designed to make sure that your tax preparer is taking good care of you. If your preparer makes any of the five mistakes we list, he or she will face penalties that can add up to $25,500 per year! We’ll tell you what they are when you read the full article.
- We’ll explain the important “due diligence” requirements. Your tax preparer must perform extra “due diligence” to make sure that you qualify for certain valuable tax credits. If your preparer fails to act correctly, he or she faces stiff penalties. We’ll give you all the details when you read the full article.
- We’ll tell you why taking an “unreasonable position” can cost you and your tax preparer a bundle. If your tax preparer takes what the IRS considers to be an “unreasonable position” on your return, the IRS gets a possible double dip on penalties. One hefty dip is from you. The other, from your tax preparer. To avoid costly problems, read the full article.