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Gordon Frasier

5 Things to Watch out For “Ghost” Tax Preparer

WHAT IS THE DIFFERENCE BETWEEN A VALID TAX PREPARER AND A “GHOST” TAX PREPARER?

Not knowing could be a costly exercise. By Law, a Tax Preparer must have a valid PTIN. (PREPARER TAX IDENTIFICATION NUMBER)
The PTIN and tax preparer credentials and qualifications are available in the IRS Directory of Federal Tax  Returns Preparers.
Once your tax form is completed,  the Tax Preparer will sign it and insert his PTIN.
To recognize a  “Ghost” Tax preparer, Look for the following red flags

1.      Payment to be made in cash only, and no receipt will be issued.

2.      Invented or inflated income to qualify the clients for tax credits.

3.      To boost the size of the refund, fake deductions might be claimed.

4.      They might agree to charge fees based on the size of the refund.

5.      The “ghost” tax preparer also inserts their bank account details onto the form instead of that of the taxpayer.
Always check the completed form carefully.  Ensure that all the information and, in particular, your banking details are correct.

Gordon Frasier CPA is a Certified Tax and Accounting Company based in Laguna Hills, California, USA.