Everyone is required to file a tax return. Either as an individual or as a business. Tax preparation is the process of preparing income tax returns. This is often done by someone other than the taxpayer, and generally able to compensate. Tax preparation services like taxpa.com can assist in tax preparation, sometimes with the help of tax preparation software suite.
It can also be done by licensed professionals such as lawyers, certified public accountants or agents. Now there are rules and regulations for who can prepare and how taxes are prepared. There are licensing requirements for fee-based preparation of some state tax returns.
Proposed changes will eventually require all paid tax preparers federal become listed. The new rules will require preparers who are compensated, will be required to pass an examination of national tax law and undergo continuing education requirements. Some of these requirements may already be met by tax services provided.
Public accountants, attorneys or enrolled agents can be excluded because it probably would have been required to take continuing education courses to maintain a license to practice. They will be required to have a practitioner tax identification number (PTIN). Regulations will help to make the decision to choose this service is easier for a competency test is now required to be officially registered as an expert on tax returns.