
(Photo Source: boscpa.com)
How to get a bigger refund
Filing taxes can be complicated, and many people turn to professionals to do it for them. But how do you know if your tax preparer is legitimate? Maurie Backman, a reporter for USA Today, says to look out for a few red flags.
First, make sure your tax preparer has a PTIN, or a preparer tax identification number. “The IRS requires all individuals who get paid to prepare taxes, or assist with tax preparation, to have a preparer tax identification number or PTIN. This regulation has been in place for quite some time, so if the person you’re thinking of hiring doesn’t have one, look for someone who does,” Backman writes.
Also, look out for any tax preparer who promises you’ll get a big refund. A professional will never make such guarantees, Backman says.
“While it’s true that the majority of people who file a tax return wind up with a refund, that doesn’t mean you’re guaranteed to get one. And any tax preparer who promises to get you a refund, or a big refund, should be avoided,” Backman says. “Without reviewing your tax details thoroughly, there’s no way a preparer can legitimately promise a refund.”
If your preparer demands a cut of your tax refund as a fee for their service, that’s another red flag. “If that’s how your tax preparer makes his or her money, then there’s a good chance he or she will be tempted to take liberties with your return to snag a higher rate, and that’s not what you want,” Backman says.
Also, be wary of tax preparers who don’t offer audit support. If you get audited by the IRS, your tax preparer should be willing and able to walk you through the process, Backman says.
News o’Clock: What You Need To Know
-
Credit: Shutterstock Trump and Wall Street’s Top Banker Bury the Hatchet—And Your Wallet Might Thank Them In an unexpected...
-
Credit: Envato Elements Will These Cryptos Steal the Spotlight by Year-End 2025? After a wild start to 2025 filled...
-
Credit: Unsplash Why Don’t We Just Tax the Rich? Every year, millions of Americans pay their taxes expecting that...
-
Credit: Unsplash Is the Minimum Wage Livable in The U.S.? The federal minimum wage in the United States has...
-
New tax on foreign investors could shake global confidence in U.S. markets and dampen demand for Treasuries and the...
-
Trump’s trade measures are unexpectedly easing price pressures—for now—before a likely rebound in inflation later this year. In an...
-
Practical Ways to Reduce Credit Card Debt and Boost Your Credit Score Even as Interest Rates Climb If you’re...
-
Inspiring Success Stories of Self-Made Entrepreneurs Who Turned Challenges into Opportunities Becoming a successful entrepreneur is rarely a straightforward...
-
Proven Investment Strategies to Build Your Retirement Wealth If you have $100,000 and want to grow it into $1...
-
Key Habits That Successful Entrepreneurs Follow to Stay Productive, Innovative, and Ahead in Business Ever wondered what separates successful...
-
Consumers navigate trust concerns, price wars, and new tariffs while choosing between Amazon and Temu When it comes to...
-
Credit: Pexels Making the Decision to File Your Taxes Yourself or Hire a Professional Tax season is here, and...