Confidence is dangerous if investments are concerned
It is no secret to anyone that the world is full of people looking to take advantage of those who do not know about their finances.Therefore it is essential that each person be careful with the specialists who define their fees as a percentage of the return or claim to be able to obtain a larger refund than other specialists.
The fee should be defined by the complexity of the return, not the amount of the refund.Those suspicious specialists usually say that it is more profitable to require that the amount to be reimbursed be placed in their account. This is a fairly common way for scammers to steal returns. In addition, it is an indicator that an account that is not your own contravenes the IRS rules.
Any acquaintance or closest neighbor is recommended by a tax specialist who helped him get a lucrative tax refund; you call and answer your questions; And he tells you that he donated to a non-profit organization, but he does not know with certainty the amount and tells him about the work expenses he can deduct, but he does not have all the documents at hand.
The specialist, for his part, reassures him by giving him the apparent solution of his problems, he will do the work for you.He calculates the amounts, you check the tax refund form and you realize that the deductions are exaggerated, however you receive a juicy refund and are delighted. The specialist notifies you that 15 percent of said refund belongs to you as part of your fees for having helped you receive that large amount.You sign the return and note that where it would correspond to be the name of the specialist there is only a label with a sender address.
And after a while, tax specialists tend to become scoundrels once the tax season ends.It is vital that we all know that the Internal Revenue Service or the tax authorities do not grant any kind of endorsement to tax specialists. It only registers certain credentials of specialists, such as the cases of certified public accountants (CPA), authorized tax agents or lawyers.
These are the professionals authorized to represent their clients before the IRS.On the other hand, only a few states have stipulated requirements for tax specialists who are not CPAs, authorized tax agents or attorneys.In California, for example, the state requires non-accredited specialists to register with the California Tax Training Council (CTEC). And every tax specialist that has been registered with the CTEC receives the name registered tax preparer and must complete tax training courses year after year and obtain a seal that protects its clients from falling into fraud.Likewise, the tax specialists who collect for their services must leave in writing and officially, the federal tax return and return, and include their PTIN in all federal tax returns.In the cases of those specialists who sign with the legend drawn up by the taxpayer, the client must be very attentive, because sometimes the specialists instead of signing with their name, they do it with the name and address of a company or they say that they will sign "later".