Gino DeMonaco's Tax Service (GDTS)

Ten Tips to Help You Choose a Tax Preparer Many people look for help from professionals when it’s time to file their tax return. If you use a paid tax preparer to file your federal income tax return this year, choose that preparer carefully. Even if someone else prepares your return, you are legally responsible for what is on it. Here are ten tips to keep in mind when choosing a tax return preparer:... 1. Check the preparer’s qualifications. All paid tax return preparers are required to have a Preparer Tax Identification Number. In addition to making sure they have a PTIN, ask if the preparer belongs to a professional organization and attends continuing education classes. 2. Check on the preparer’s history. Check with the Better Business Bureau to see if the preparer has a questionable history. Also check for any disciplinary actions and for the status of their licenses. For enrolled agents, check with the IRS Office of Enrollment. 3. Ask about service fees. Avoid preparers who base their fee on a percentage of your refund or those who claim they can obtain larger refunds than other preparers can. Also, always make sure any refund due is sent to you or deposited into an account in your name. Taxpayers should not deposit their refund into a preparer’s bank account. 4. Ask to e-file your return. Make sure your preparer offers IRS e-file. Any paid preparer who prepares and files more than 10 returns for clients must file the returns electronically, unless the client opts to file a paper return. 5. Make sure the preparer is accessible. Make sure you will be able to contact the tax preparer after you file your return, even after the April 15 due date. This may be helpful in the event questions arise about your tax return. 6. Provide records and receipts. Reputable preparers will request to see your records and receipts. They will ask you questions to determine your total income and your qualifications for deductions, credits and other items. Do not use a preparer who is willing to e-file your return by using your last pay stub before you receive your Form W-2. This is against IRS e-file rules. 7. Never sign a blank return. Avoid tax preparers that ask you to sign a blank tax form. 8. Review the entire return before signing. Before you sign your tax return, review it and ask questions. Make sure you understand everything and are comfortable with the accuracy of the return before you sign it. 9. Make sure the preparer signs and includes their PTIN. A paid preparer must sign the return and include their PTIN as required by law. The preparer must also give you a copy of the return. 10. Report abusive tax preparers to the IRS. You can report abusive tax preparers and suspected tax fraud to the IRS on Form 14157, Complaint: Tax Return Preparer. If you suspect a return preparer filed or altered a return without your consent, you should also file Form 14157-A, Return Preparer Fraud or Misconduct Affidavit.

You may have heard ads offering to do Tax Prep for free. Just how can they afford to do this? Some firms use 'Loss Leaders' to lure prospects for their other financial products or share the info. READ THEIR PRIVACY POLICY CAREFULLY! BTW, if a firm is doing your taxes for free, how much time will they spend looking for deductions and analyzing your future needs. How motivated do you think they will be?

Tax Refund Anticipation Loans (RALs) are starting to disappear. It's about time !! These oft-criticized high-interest loans were not worth the price you paid. By offering eFiling and Direct Deposit (into YOUR account) you can have your refund in as little as EIGHT DAYS !!!!! At GDTS we can tell you when to expect your money.

Tomorrow is the first day for eFiling. New IRS regulations require every tax preparer to have an IRS assigned PTIN Id. At GDTS, not only have we had our PTIN for years, we are also enrolled to practice before the IRS to insure your tax needs will be met.

Well, it's that time of year again. Starting Monday, January 3rd we will be posting tax information daily. Book your appointment early and ask about our Early Bird discounts and other available discounts.

Did you know that if you eFile your taxes AND use Direct Deposit, you could receive your refund in as little as ten days. Here at GDTS, eFiling with Direct Deposit is FREE !!

Early appointments are very beneficial. If you are entitled to a refund, let’s not let the government hang onto your money!! If it turns out you owe, it’s best to know now. You’ll still have until April 15th to explore all of your payment options.

If you bought a house last year, or if you know someone that bought a house last year, call or have them call us to make sure you/they get the correct tax credits allowable !!

Post your tax questions in the discussions area and I'll post your answers as soon as I can.

Who is really doing my tax returns? The large national franchises traditionally do not have enough employees with a lot of tax preparation experience. A customer could be dealing with a quality preparer, but they could also get someone who started yesterday. It’s hard to find quality employees who only want to work four months out of the year.