Essential Steps for Tax Preparers Filing 2024 Returns
During the 2025 tax season, tax preparers play a crucial role in ensuring clients' returns are accurate and timely. Below are important reminders to assist professionals in navigating this period effectively. Below are key takeaways tailored for tax preparers:
1. Encourage Clients to Gather All Necessary Documents
Advise clients to collect and organize all pertinent tax documents before their appointments. They can easily upload these documents to the MyTAXPortal making for easy access and quicker turn around. Essential items include:
Social Security Numbers (SSNs): Ensure clients provide SSNs for themselves, spouses, and dependents.
Income Documentation: Collect all Forms W-2, 1099, and records of other income sources.
Deduction and Credit Records: Gather receipts and records for deductible expenses and eligible credits.
Prior Year Adjusted Gross Income (AGI): Obtain the previous year's AGI for e-filing authentication.
2. Promote Electronic Filing and Direct Deposit
Highlight the benefits of e-filing combined with direct deposit to clients:
Speed: E-filing with direct deposit is the fastest method for refund processing.
Accuracy: Tax software reduces errors by performing automatic calculations.
Security: Electronic submissions are securely transmitted to the IRS.
3. Stay Informed on Tax Law Changes
Tax laws can change annually. It's imperative to:
Review IRS Updates: Regularly consult the IRS Newsroom for the latest information.
Participate in Continuing Education: Engage in courses and webinars to stay current on tax code modifications. You can receive 30% off quality CE training from Latino Tax Pro, a trusted partner of MyTAXPrepOffice.
4. Implement Robust Data Security Measures
Protecting client information is paramount:
Use Secure Portals: Employ encrypted platforms for document exchange. Cloud-based programs such as MyTAXPrepOffice was created with online data protection at the forefront of its development. Features such as MyTAXPortal provide a simple, single point of access for managing tax documents and communicating with your clients.
Regularly Update Software: Ensure all tax preparation software is current to guard against vulnerabilities. Using cloud-based tax software like MyTAXPrepOffice, ensures that you never miss a software update. Automatic updates are built within the software so while the updates are happening behind the scenes, you are taking care of clients and not wasting a minute of tax season.
Educate Clients: Inform clients about phishing scams and the importance of safeguarding their personal information.
5. Prepare for Potential Delays
Inform clients about factors that may affect refund timelines:
EITC and ACTC Claims: Refunds involving the Earned Income Tax Credit or Additional Child Tax Credit may experience delays due to verification processes.
Peak Filing Periods: High-volume periods, such as President's Day weekend, can lead to longer processing times.
By proactively addressing these areas, tax preparers can enhance service quality, ensure compliance, and foster client trust during the 2025 tax season.
Disclaimer: This article is for informational and educational purposes only and does not constitute legal tax advice. Advanced Tax Solutions is not liable or responsible for any damages resulting from or related to your use of this information. It is your responsibility to refer to official IRS documentation for information regarding any tax laws or tax information shown here.
