Tax code confusion is not only costly for low-income people who must pay the costs of a tax preparer. It prevents them from identifying and getting much-needed tax breaks.
Tax code confusion is not only costly for low-income people who must pay the costs of a tax preparer. It prevents them from identifying and getting much-needed tax breaks.
Most people don't think about it tax planning until they start thinking, 'Oh, I have to set an appointment with my tax preparer,' in February or March. And it's too late.
In most cases, taxpayers can recover any penalties and extra fees they may have incurred because of a mistake by the preparer, but will still have to pay the extra tax if it is due.
The taxpayer is required to substantiate on their own both legally and through documentation that they actually incurred the expenses they claimed they did, ... If you told your tax preparer you took a large charitable donation and just pulled that number out of the air, the tax preparer isn't going to be able to help you. You have to be responsible for your claims.
© 2020 Inspirational Stories
© 2020 Inspirational Stories