As accountant ranks thin, who will prepare your tax returns this year?

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As accountant ranks thin, who will prepare your tax returns this year?
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So, what should you do if, instead of receiving that annual organizer package, you receive a notice that your accountant has sold their practice or retired?

Your first step is to dig out your last three years of personal and business returns with all the supporting paperwork. Your tax professional should have provided you with a pdf or hard copy of your completed returns at the time of service. They also should have returned all of your original documentation.

Tax programs have become increasingly easy to use, and you can avoid the cost of hiring someone. Programs commonly offer an interview approach with the questions a preparer would ask if they were sitting across from you. Sometimes, a tax person can answer questions over the phone for an additional fee.

If you have a simple return, using a tax preparer should be sufficient, with a caution that the quality of preparers varies widely. It is easy to become a licensed preparer, and most do not carry insurance for errors and omissions. So, If one year your return is more complicated or if you require accounting services, the tax preparer may be unable to help. Also, only EAs, CPAs and attorneys can represent you if you are audited.

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