A tax accountant is a professional who will help you to deal with things related to taxes. From saving a few extra bucks from the original amount to tax deductibles, there are a ton of elements offered by a genuine tax accountant. This means, all your financial, income-related and other paperwork needs to be handed over to the accountant. However, you need to ensure that the tax accountant you hire fulfills your need rather than turns out to be bogus. Therefore, while hiring a tax accountant, it is important to look at these signs which makes an accountant a bad one.
- Not Having a PTIN – PTIN or Preparer Tax Identification Number is like a license where every accountant needs to have one. This is a compulsory rule made by the IRS for all accountants in the world.
- Forces you to pay for the health Insurance Penalty Directly to them – A bogus accountant will try to rob you by asking you to pay the health insurance penalty directly into their account. The only way you need to pay this penalty is by getting in touch with the IRS.
- Forces you to pay Higher Refund – A bogus accountant may force you to pay a refund that is on the high side even before they start working. Furthermore, experts have revealed to stay away from such accountants since you are obviously going to share your personal financial documents.
These are some of the common bad signs of a bad accountant. Try looking for a reputed accountant from accounting payroll services in Sydney and other parts of Australia.