Get help with tax
Get help from HMRC
For simple queries, you can contact HM Revenue and Customs (HMRC). You should also contact them in the first instance if you:
can’t pay your tax bill on time
disagree with a tax decision
have additional needs, for example a disability or you don’t speak English
If you’re on a low income
If HMRC can’t help and you’re on a low income (up to about £380 a week), you may be able to get free professional advice. This includes help with filling in forms and what to do if you owe money to HMRC.
Get help from family or friends
You can give permission to a friend or family member (a ‘trusted helper’) to deal with HMRC on your behalf for things like viewing your Income Tax estimate, talking to HMRC or helping you to fill in forms
Hiring a professional
An accountant or tax adviser may be able to help you with your tax. You’ll need to authorise an accountant or tax adviser to deal with HMRC for you.
Tax Return Due Diligence: Basic Considerations
Due diligence, in the context of tax return preparation, is the diligence or care that a reasonable preparer would use under the same circumstances. It is an objective standard.
Under the general due diligence standards set out in the regulations, the preparer can on most occasions rely in good faith and without verification on information provided by the client or third parties and contained in previously filed returns. However, in some situations the preparer will be required to make further inquiries to verify the accuracy and completeness of the information provided to meet the due diligence requirements.
The Code and regulations provide for enhanced due diligence requirements with respect to claims for the earned income tax credit. Preparers are required to exercise due diligence in determining whether a client has met the requirements for reporting foreign bank and other financial accounts.
a critical plot point is the question of a hospital’s due diligence and negligence. A patient at the hospital was in a vegetative state, and the family was suing the hospital over whether its behavior and the circumstances surrounding the administration of anesthesia were appropriate. There is further controversy over the documentation as to whether the admitting nurse “did the right thing” in checking into whether the patient had eaten anything outside the appropriate time frame for safely administering anesthesia. Did the hospital do the right thing? What would a normal and prudent medical staff do under the circumstances? What was the role of documentation in the determination of the hospital’s liability?
While the situation may not have the same drama as The Verdict, a tax professional may be asked the same types of questions if something goes awry and there is a mistake on a return or an understatement of tax. With the perspective of hindsight, did the tax return preparer do the right thing? What exactly is the right thing to do in determining a tax return position? Did the preparer apply the law appropriately to the facts? Did he or she have all the relevant facts? What effort is required of a reasonable and prudent preparer to obtain the pertinent facts? What should the preparer document in the client’s file?
Tax Preparation Guide – What to Bring When You Do Your Taxes
The number one question that most taxpayers ask when getting their taxes prepared by a credentialed tax preparer is, “What do we need to bring?” When choosing to have someone else prepare your taxes for you, it can be beneficial to prepare the documents you will need in advance in order to help your preparer get you the best return possible.
Proof of Identity
The IRS requires each tax preparer to physically see a taxpayer’s social security card and another form of ID before we can file your taxes for you. The other form of ID can be a driver’s license, passport, or any other form of ID that contains your picture. Having these forms of ID is how we make sure the return is correct for the right person.The IRS requires each tax preparer to physically see a taxpayer’s social security card and another form of ID before we can file your taxes for you. The other form of ID can be a driver’s license, passport, or any other form of ID that contains your picture. Having these forms of ID is how we make sure the return is correct for the right person.
The person bringing these documents in needs to be listed as one of the taxpayers on the tax return. We will match the social security card and driver’s license to the taxpayer providing the documents in order to confirm their identity for security purposes. Along with your own proofs of identity, you will need to bring your spouse’s and children’s social security cards as well. This allows us to check that the information you provided is correct.
Nine times out of ten you are going to give us the right spelling of your kids’ names, your name, the exact social security number, and all the correct information we need. It’s that one out of ten moment where you get overwhelmed by your taxes and end up writing down a nickname for your child that doesn’t match their legal name. Then your return gets rejected because the IRS immediately does a legal name and social security match for everyone on your tax return.
Bringing these documents are not only required for us to do your taxes, but it will save time and money in the long run. Bring these documents in with you and we will make sure they match all the information you provided us with so we can prevent any problems later. Anywhere you go, they will and should ask you for this information. We are all going through the same information in order to make sure everything is accurate up front.
The Accountant’s Guide to All Things Tax Prep
Let’s get right to it. One of the keys of successful tax preparation has nothing to do with filling out forms or itemizing deductions. You also have to be able to work efficiently under pressure while weathering the yearly force of nature we call Tax Season. That’s no simple task.
Preparing for Tax Season
Orchestrating a successful tax season begins long before the IRS starts accepting returns at the end of January. There are dozens of tasks that need doing in order to prepare for tax season, from stocking the materials closet to hiring any extra help you might need. Here are a few less obvious things you might add to your pre-tax season preparation list.
Audit Your Process
Chances are you’ve probably prepared enough tax returns that you have the the process down to a science. You know what you need to do to get the job done, but that doesn’t mean everyone on your team does. It also doesn’t mean that your working pace isn’t getting slowed down by tedious tasks such as delegating work, holding meetings, and checking the statuses of different projects.
Offer Tax Planning Early
Your clients will really benefit from having a planning session about lowering their taxable income by implementing year-end strategies. For example, some business owners don’t know that they can choose to delay billing for certain work or services done late in the year. That way, they receive the payment in the following year, thus lowering their tax liability for that current year. Without your help, your clients are likely unaware of these and many other actions they can take toward the end of the year.
Tax planning is a year-round activity where you can work with your clients to make plans and get organized. By getting helping your clients plan early, you’ll give them the tools they need to be far more prepared when tax season rolls around.
Things You Can Do Now to Get Ready for Tax Season
Every year you promise yourself that this will be the year you file your taxes early. And every year you’re rushing to file your return by midnight on April 15th.
While it doesn’t matter to the IRS whether you file on February 1st or April 15th, there are some distinct advantages to getting your taxes done early. For starters, if you’re owed a refund, the sooner you file, the sooner you’ll get your refund money in your bank account. Plus, filing early may help lessen the risk of tax identity theft: the sooner you file, the less time is available for a thief to file a fraudulent return using your personal details.
Get last year’s tax return
Don’t start your tax planning from scratch. There’s a lot of information which carries over from year to year. You can save yourself some time and shortcut the prep process by first digging out last year’s return.
Do a paycheck checkup
Does your employer withhold taxes from your paycheck each month? It’s important to make sure that your employer is withholding enough taxes. This way you’re not stuck with a big tax bill and penalties when tax time rolls around.
Make a list of all sources of income
You may have multiple sources of income and they’ll all need to be included on your return when you file. While you won’t have totals or official forms yet, it’s a good idea to make a list of your sources of income so that when tax time rolls around, you have all the documents you need to collect.