12 tax tips for 2012
12. Hire a registered tax pro
The IRS is continuing its efforts to regulate tax preparers. The process began with the registration of return preparers and the issuance of a personal Preparer Tax Identification Number, or PTIN, to each. The IRS is ramping up its effort to hold tax preparers accountable and weed out unscrupulous tax pros, with proposals to fingerprint preparers and, in 2013, require them to pass competency exams. If you hire a tax pro, ask about his or her IRS registration status, along with your usual inquiries to verify the preparer's ability to meet your tax needs.