The survey found that one-third of London’s population relies upon a tax accountant to file tax returns, but we hardly know about them, their functions and importance in our lives. The recent magazine publications that conducted a study about tax accountants.
The people who hire them found out that as many as 80% of the people who hire a US UK tax accountant in London never really asked about their credentials. And a good 75% of the hirers are said not to have asked the tax accountants if they would at all represent them during a tax audit, and that is surprising.
So, if you are on a lookout for help, here are some effective ways on how to get the best tax accountant in London.
Ask About the Tax Identification Number of The Tax Preparer
The IRS asks for the PTIN from anyone who is assisting or preparing the federal tax returns for compensation. Ensure that the tax accountant that you hire puts the PTIN number they own on your return-this is exclusively demanded by the IRS.
Need an Agent Designation, Law License or CPA
A PTIN is quite easy to get, so climb the net step and seek a credential preparer-someone who is also a designated public accountant, attorney, licensed agent or who has earned the IRS Annual Filing Season program. The examples of programs that help accountants fulfill the requirement of the Annual Filing Season Program are the Accredited Business Advisor/Accountant and Accredited Tax. All these credentials need extensive hours of studies, tests and ongoing education.
How to find a CPA near me with all the credentials that you are searching for in his bag? One good way is to look for them in the IRS directory. It comprises of the accountants with PTINs and professional credentials that are recognized by the IRS. The Volunteer accountants with only PTINs would not be in the database.
Look for Contacts in High Positions
It is always good to have membership in the professional organizations such as the National Associations of Enrolled Agents, the National Association of Tax Professionals, The American Academy of Attorney CPAs or The American Institute of Certified Public Accountants because most of them have requirements for professional conduct, ethical codes followed by multiple certification programs.
Besides this, you must also take into consideration the fees that the tax accountant is charging. The legitimate tax accountants generally charge by the hour, so strike off any accountants who say they would charge as per your refund size or someone who promises you greater refunds than their competitors. Taking all of these in mind, set forth to hire them, as we bet you shall one of the best accountants in London.