The Cutting Edge: Don’t Get Taken By Your Tax Preparer
We’re in the heat of tax season and if you haven’t filed yet, a bigger issue may be where or with whom to file. After all, with Timothy Geithner, Tom Daschle, and a slew of presidential nominees having had botched tax returns, the average Joe might want to be a little more cautious about the tax process. Though only about 1% of tax returns are actually audited, it’s important to file your taxes accurately, otherwise you could be overpaying or underpaying -- both a lose-lose situation for you. In a study done by the Government Accountability Office (GAO), in services done by H&R Block and a few other big chains, unwarranted extra refunds of up to almost $2,000 were found in several instances.In some cases, the preparers cost the taxpayer more than $1,500. From do-it-yourself to finding a professional, here are some tips to make sure filing your taxes goes smoothly this season.
