Question 1

What is a Certified Public Accountant (CPA)?

Accepted Answer

Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA. In most states, only CPAs who are licensed are able to provide to the public attestation (compilation, reviews, and audits) opinions on financial statements.

CPAs must also adhere to certain ethical standards and a code of professional conduct established by governmental bodies and peer organizations.

Question 2

What is an Enrolled Agent (EA)?

Accepted Answer

An enrolled agent is a tax practitioner who is licensed at the federal level by the Internal Revenue Service. In fact, enrolled agent status is the highest credential awarded by the IRS. To qualify, an Enrolled Agent must pass the Uniform Enrolled Agent Examination and meet additional educational requirements, including Ethics. The scope of their work is limited to the area of taxation only.

Question 3

Is your office open after tax season?

Accepted Answer

Yes, the office is open, and we offer our services year-round.

Question 4

When is the due date of a tax return on extension?

Accepted Answer

Individual, Corporation, and Fiduciary returns must be filed by October 15th.   
Partnerships & Subchapter S Corporations must be filed by September 15th.   
Tax-Exempt Organizations must be filed by November 15th.

This assumes that all the above have a calendar year end of December 31st.

Question 5

Does being put on extension increase the chances of being audited by the IRS?

Accepted Answer

No, based on conversations with several IRS agents, filing an extension is not a red flag and will not increase your chance of being audited.

Question 6

Can you represent me to the IRS or state tax agency?

Accepted Answer

Yes, a CPA and an EA are each able to represent you before the federal or state taxing authority.

Question 7

If I am put on extension, does that delay when my payment is due?

Accepted Answer

No, an extension of time to file your return is NOT an extension of time to pay. If you do not pay your full tax due by April 15th, you will accrue a late payment penalty and interest.

Question 8

What happens if I miss a tax filing deadline?

Accepted Answer

File your return as soon as possible, even if it is late, to minimize a late filing penalty and interest.

Question 9

What if I don’t have the money to pay the tax I owe?

Accepted Answer

If you owe money but don’t have it available when you file your return, file the return anyway to avoid the late filing penalty and interest.

The taxing agency will send you a bill about 60 days after you file the return to let you know the balance on your account. You can pay then or contact the IRS/state to set up a payment plan.

Question 10

How long should I keep my tax return and documents?

Accepted Answer

Keep your returns and documents for seven years.

Question 11

Do you work with clients remotely?

Accepted Answer

Yes, I can set up a Zoom or Teams call, and you can send tax documents to me through a secure portal.

Question 12

Who will prepare my tax return?

Accepted Answer

The owner or a member of the staff prepares the tax returns; however, the owner reviews every return and signs it.