Tax season has finally arrived, with confusion and misinformation about the complete tax payment process being a common problem among the Americans.
In order to make the process hassle-free, the Internal Revenue Service, the Justice Department and the Consumer Financial Protection Bureau have provided a set of guidelines for well-informing the tax payers about how to file their tax returns.
Here are some of the important tips for the taxpayers to avoid possible fraud or payment of extra fee.
- Those who have income less than USD 53,000; people with disability; people above 60 years of age and limited English-speaking people are entitled to get free assistance in tax preparation.
- The tax payers must confirm the fee of paid tax preparers in advance.
- Tax preparers fabricating the business expenses, the income statement or suggesting claim of bogus tax credits should not be considered by the tax payers.
- A blank return must not be signed. Also, the completely filled income tax return should be signed after carefully reading the whole document.
- Ensure that your bank account details are correct. This is very important as the tax refund can easily be transacted to the tax payer and not the tax preparer.
- Any abuse or fraud tax preparers can be reported to IRS using form 14157 and 14157-A.