Tax accountants are getting harder to find each year. Although April 15 is fast approaching, don’t fret if you haven’t hired a tax preparer yet.
We’ve consulted with tax experts who share how to find a professional to assist you. Here’s a deeper dive.
Tips for Finding a Tax Prep Pro
Tax prep services like H&R Block offer user-friendly ways to set up an appointment with a tax pro. When making an appointment online, you can select an office near your location.
“You can also choose a tax pro by area of expertise, like retirement or small business, to find help that best fits your needs,” Kathy Pickering, chief tax officer at H&R Block, said in an email.
Once you select a location and subspecialty if needed, H&R Block can match you with a tax preparer.
[READ: Should You Hire a Tax Professional This Year?]
Prepare Your Own Tax Return
If you have a simple return, Pickering said you can also choose from options like H&R Block’s Free DIY (Do-It-Yourself) online tax preparation service and filing software.
“This allows individuals to prepare and file their own tax returns on their own time and from the convenience of their own computer or mobile device,” she said.
Many companies offer DIY tax preparation, such as TurboTax, which has a program called Assisted Basic. Users get as much live help from tax experts as they need, plus a final review before they file. The program is free for filers with very simple returns.
Use Community Resources
There are often community tax prep services available through local government offices, libraries, houses of worship or civic groups.
Libraries, community centers and senior centers often hold tax preparation workshops or seminars, and volunteers may be available to help prepare taxes or answer questions. Call your local municipal office to find these resources in your community.
Get an Extension
If you can’t connect with the right tax pro and need more time to file your taxes, Pickering said you can request an extension by filing Form 4868.
“The IRS will not assess a late filing penalty if the return is filed by the extension deadline, generally Oct. 15,” she said. “An extension to file is not an extension to pay.”
[Read: How to File Taxes for Free.]
Because most taxpayers are due a refund, Pickering said if you have everything you need to file your return, waiting to file means more time waiting for a refund.
“If you owe money, filing helps you explore options to pay your taxes before the deadline,” she added.
Why Is the Number of CPAs Shrinking?
Your challenge to find a CPA may just be a simple result of supply and demand, as in recent years the number of CPAs has declined.
“The tax business is an ‘older profession’ and many CPAs have retired, merged and/or had unfortunate sickness or death,” Gail Rosen, owner of Gail Rosen, a CPA in Martinsville, New Jersey, said in an email.
“The tax laws are becoming more complicated each year and many professionals have ‘had enough,'” she said.
Rosen said the rigors of the profession, especially during tax season, have influenced the profession’s decline. “Young people are not interested in a job that includes the pressures of tax season,” she said.
CPAs still in the profession are overworked and struggling to balance their existing client bases, as well as new inquiries.
“The experienced CPAs that are left are receiving many calls from potential clients looking to establish a relationship with a CPA professional who will give them the time and attention they want. Clients are finding it harder and harder to find a qualified CPA firm,” she said.
[READ: Where Are All the Tax Accountants?]
It’s Crunch Time
At this point in the year, it’s difficult to find a quality tax CPA firm to prepare your 2023 taxes, Rosen said.
“There is work involved with onboarding a new client,” she said. So, Rosen said you might have better luck telling a CPA firm that you are willing to go on extension, and they can prepare your return after the April 15 deadline.
“It’s important to realize that an extension only gives you additional time to file and does not grant you more time to pay your taxes. All taxes for 2023 that are not paid by April 15th, 2024, are subject to interest and possible penalties,” she added.
Tips for Using a Tax Accountant
If you’re able to connect with a tax accountant, make sure you do the following:
— Ask about service fees. Taxpayers should avoid tax return preparers who base their fees on a percentage of the refund, according to the IRS. Be wary of any tax preparers who promise that they will get larger refunds than competitors.
— Ask for the preparer’s credentials and qualifications. The IRS says attorneys, CPAs and enrolled agents can represent any client before the IRS in any situation.
— Pay attention to documents. Never sign a blank or incomplete return. Taxpayers are responsible for filing a complete and correct tax return.
— Review your tax return before signing. If something isn’t clear to you, ask your tax preparer to explain it. Carefully review all documents and double-check the information, especially your bank details, if you are receiving your refund via direct deposit.
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Can’t Find a Tax Accountant This Season? Here’s What to Do originally appeared on usnews.com
