Due to recent IRS regulations it is more important than ever to choose the right tax preparer. Paid tax preparers who file Federal returns after January 1, 2011 must have a Preparer Tax Identification Number (PTIN). PTIN’S are issued by the IRS and subject the preparer to competency exams and continuing education requirements. Attorneys, CPAS and enrolled agents are exempt from the competency exam, since they are already regulated by their applicable licensing boards.
Kelly Phillips Erb’s article Seven Tips for Choosing a Tax Preparer not only discusses the PTIN requirement, but it also discusses doing your due diligence when choosing a tax preparer. If a CPA is licensed in Michigan you can verify their license as well as determine if they have any disciplinary actions against them. This can be done at Michigan Department of Energy, Labor & Economic Growth’s website at https://www2.dleg.state.mi.us/colaLicVerify/
This article was written by Jay Kossen, CPA at Numerico, PC. Click here to view Numerico’s website.
