Do I Need a CPA to File Corporate Taxes

Your small business tax information is in order, and now is the time to find a tax preparer. Who can best help you prepare your tax return? While there are many different types of trained accounting professionals. Who can prepare business tax returns, some are better than others.

All people who are paid to prepare tax returns MUST have a Preparatory Tax Identification Number (PTIN) provided by the IRS. At this point no exam is required to earn a PTIN but in the future. Paid tax preparers will have to pass a qualifying exam and background check. In this article let’s talk about do I need a CPA to file corporate taxes.

What does a tax preparer do?

A good tax preparer has a number of functions. The preparer can act as a tax advisor, helping you make tax planning decisions throughout the business year. They may be able to give you tips to keep you better organized with the tax information you collect. Of course, the preparer can prepare the tax return for you. This person should sign the statement, so it is clear who did the work. As already mentioned verify that your preparer has the necessary training and ask them to see your Preparer Tax Identification Number (PTIN).

Also, your tax preparer should be able to help you if they audit you. Representing you before the IRS and the Tax Court. Not all tax preparers can do this. Sure, you can hire someone after the fact to represent you before the IRS if you get audited.

 The Types of Professional Tax Preparers

An unregulated preparer can prepare your business taxes, but this person cannot sign your tax return or represent you before the IRS for an audit. An accountant can prepare and sign tax returns, but the appointment of an “accountant” does not provide confirmation of certification, nor does it give the accountant the ability to represent you before the IRS, even if your tax is signed by returns to this person. . The IRS classifies accountants as “unregulated preparers.”

A registered agent can prepare tax returns. A person is a registered agent who has been granted the privilege of practicing before the Internal Revenue Service (IRS), including preparing and filing documents, communicating with the IRS, and representing taxpayers in matters related to the IRS, including tax audits. But a Registered Agent cannot represent you in Tax Court. A Certified Public Accountant (CPA) is a professional accountant who has passed a qualification examination and is licensed to provide accounting and tax services to individuals and businesses. Most CPAs specialize, so get a CPA that deals primarily with taxes if you want a CPA to provide tax preparation and consulting services.

 Tips for Choosing a Tax Preparer

Before hiring a tax preparer, check their credentials. Apply for the PTIN and any licenses (like a CPA license). Make sure the license is up to date. Tax preparers (CPAs and registered agents, for example) must take continuing education courses each year to maintain their licenses.

A tax preparer who has not taken these courses does not have the legitimate right to sign tax returns. The IRS has a number of additional recommendations for selecting a tax preparer.

Before you go, I hope this above article do I need a CPA to file corporate taxes will be helpful and informational for you.

Leave a Reply