Certified Public Accountant vs Unlicensed Tax Preparers
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Watch this presentation to learn the benefits of working with CPAs over getting your work done by Unlicensed Tax Preparers.
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Certified Public Accountant vs Unlicensed Tax Preparers
- 1. CPA vs. Unlicensed Tax Preparers
- 2. Tax Time • In this world nothing can be said to be certain, except death and taxes. - Benjamin Franklin
- 3. New IRS Registered Tax Return Preparer Program • Two overall goals according to IRS - Enhance compliance - Elevate ethical conduct • Four major elements - PTIN (Preparer Tax Identification Number) is required if you are paid to prepare a return for someone else; All tax preparers must have one - Circular 230 (Treasury Governing Regulations) expanded coverage to include all tax return preparers (not just CPAs, attorneys and enrolled agents) - CPE & Testing **CPAs exempt from CPE and testing** 3
- 4. Comparative Snapshot of Tax Preparers Unlicensed CPA Tax Preparer 4
- 5. Points to Remember When Selecting a Tax Preparer • CPAs offer assistance and peace of mind all year long • CPAs have deep experience, breadth of knowledge and rigorous qualifications to address your most important financial needs and concerns - “Registered tax preparer” does not mean a minimum level of education or experience • Ask questions and choose someone you’ll enjoy working with – it’s a deep and trusting relationship “I want to complement Sudhir for showing such good concern for the customers. After sales & service is mark of a great company & today’s discussion truly showcases the same for your organization. I will definitely like this association to turn into a long term relationship.” -HNI Client
- 6. Partner with a CPA Phone: (888)-482-0279 Fax: (888)-482-0279 Email: tax@sudhirpaicpa.com www: www.sudhirpaicpa.com Addr: 5600. Tennyson Parkway, Suite 229, Plano, TX 75024 6
Editor's Notes
- Have you heard the new term ‘Registered Tax Preparer’ in the marketplace. You may be wondering, what exactly is a Registered Tax Preparer and how does the term apply to the tax preparers at tax service offices down the street or your local CPA that prepares your taxes. Just to provide some background, in 2010 the IRS introduced the Registered Tax Preparer Program. According to the IRS, there are two main goals which have led to the introduction of the tax preparer regulation registration in 2010. There are four major elements to the registration: PTIN, Circular 230, CPE and Testing. While CPAs do have to obtain a PTIN, CPAs are exempt from CPE and testing since the requirements to have a CPA license far exceed those requirements of the IRS.
- This chart compares the requirements of getting a CPA license and the IRS requirements for a tax preparer. As you know, the CPA far outweighs the requirements imposed by the IRS to be considered a registered tax preparer compared to a CPA that is licensed and regulated by professional state regulations.Further, the breadth of services and value CPAs provide as well as the differentiating qualifications of CPAs outlined here, it is clear thatCPAs are the trusted financial professional whose education, commitment to a code of ethics, extensive experience and professional regulation make them the premier provider of tax preparation services and advice year-round.
- Overarching CPA Message Points – Why a CPA is the premier provider of tax servicesComplexity – CPAs make sense of the ever changing laws and regulations and how they apply to your unique tax situationTrusting RelationshipQualificationsExperienceTax Time and All Year LongPlan for the FutureBig Picture Approach – It’s more than just the numbers.Peace of Mind
- Recap: A CPA is substantiated by stringent educational and professional requirements. They must adhere to strict state licensing guidelines that distinguish them from other tax preparers. Part of the rich value of a CPA is their ability to turn the overwhelming into the digestible and actionable. Your choice to partner with a CPA is an invaluable decision and will prove very beneficial to you as your trusted advisor for your tax service needs and beyond.