Learn about the COVID-19 vaccine. Packed with powerful time-saving tools and features, UltraTax CS provides preparers access to federal, state and local tax programs, including individual, corporate, corporate, estate and trust tax returns, multi-state returns, and many others. A great first stop is the IRS website, which is full of publications and instructions that will help new and experienced preparers address changes in the tax code, as well as frequently asked questions and other helpful tips. If you've decided that your tax return is too complicated to manage on your own, or if you don't have time to deal with all the rules and forms, here's how you can find a tax professional to help you reduce the burden.
In that time, you gain experience that sets you apart as a tax preparer and allows you to differentiate yourself in the marketplace. The task of becoming a tax preparer can be relatively easy compared to the difficult path of some similar companies, such as becoming a real estate agent or insurance agent. If preparing your taxes involves obtaining a W-2 form from your employer and a 1099 from your bank and entering them on a form, your return is simple and you should consider filing it yourself or using tax software. You can also contact the Better Business Bureau to see if a tax preparer has a history of consumer complaints.
Basic accounting and tax preparation skills are something everyone should have, but few people bother to learn, making you a valuable asset to any employer. Tax preparers must efficiently and securely access and manage their customers' sensitive information. If you have experience with business-related tax forms or want to save money on an accountant, you're sure to find tax software that fits your specific needs. You can advance your career in tax preparation by obtaining other credentials, such as being an enrolled agent or continuing education opportunities, such as the IRS Annual Tax Season Program.
The basic, free versions of the tax preparation software mentioned above were created for people like you, who have few deductions or other financial factors to consider. A tax professional may be able to prepare your return in a fraction of the time it would take you to prepare it yourself. If you don't have a lot of time to spend on tax preparation or your situation is complicated, hiring a tax professional is often the best option. Expect to set aside some time to give it your full attention.
The IRS estimates that the average person spends up to seven hours compiling forms and preparing their tax return.