There are three levels of individuals preparing taxes as a profession. A Certified Public Accountant has a bachelors degree and in some states a masters degree is required. This is the best choice. Residents in the area can use Austin Texas Tax Preparation for tax services.
To become a CPA one must earn a bachelors degree, and a masters degree. In addition to college exams, he or she must be licensed to work in the state he or she lives in. Some states have slightly different requirements. The CPA is considered to be at the top of his or her field.
Another person who does tax work is the Registered Tax Return Preparer. He or she need not be registered to file federal income taxes as a job. No competency testing is done to qualify this group. The highly-qualified CPA however, has passed a difficult exam to graduate, plus another exam to apply for a license to work in the profession.
CPAs have always had to conform to a code of ethics. Now, other tax preparers must also adhere to the same code of ethics. Others who prepare taxes often do so under the guidance and supervision of a CPA. Everyone has to pass a tax compliance check.
Some CPAs work as auditors. This is the position that is sent in to investigate businesses suspected of tax fraud. The tax records from previous years are inspected. It may take only a few days, but, often takes much longer, depending on how big the business is and how much security they provide.
All records of income, payments and exemptions must be made available when a business is being audited. The receipts for purchases and invoices submitted to others for payment must also be examined. For an individual, the tax preparer will ask for whatever documents are needed and how many years must be accounted for if more than the previous year.
To become a CPA one must earn a bachelors degree, and a masters degree. In addition to college exams, he or she must be licensed to work in the state he or she lives in. Some states have slightly different requirements. The CPA is considered to be at the top of his or her field.
Another person who does tax work is the Registered Tax Return Preparer. He or she need not be registered to file federal income taxes as a job. No competency testing is done to qualify this group. The highly-qualified CPA however, has passed a difficult exam to graduate, plus another exam to apply for a license to work in the profession.
CPAs have always had to conform to a code of ethics. Now, other tax preparers must also adhere to the same code of ethics. Others who prepare taxes often do so under the guidance and supervision of a CPA. Everyone has to pass a tax compliance check.
Some CPAs work as auditors. This is the position that is sent in to investigate businesses suspected of tax fraud. The tax records from previous years are inspected. It may take only a few days, but, often takes much longer, depending on how big the business is and how much security they provide.
All records of income, payments and exemptions must be made available when a business is being audited. The receipts for purchases and invoices submitted to others for payment must also be examined. For an individual, the tax preparer will ask for whatever documents are needed and how many years must be accounted for if more than the previous year.
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