Most frequent questions and answers
We prefer that your materials be organized and that you can explain the thought process used in arranging the data. However, we will take materials in many forms including client drop-off of documentation, facsimile documents, email and regular US Mail.
We are always available to you as we are a year-round, full service, Accounting and Tax firm.
Fees for our tax preparation services are billed and payable upon completion of the tax preparation and filing, including e-filing, and/or providing documentation back to you that requires US Mail. The bill is based on the complexity of the return, as well as the time required for completing our work.
Fees for Accounting/Bookkeeping and Payroll services are agreed upon between our business and the client, and begin at the commencement of services. Depending on client needs, we would bill monthly or quarterly, and would encourage automatic payments to Village Tax and Accounting Solutions where appropriate.
If you get a “Notice” from the IRS, we would encourage you to call us for a review and also be prepared to provide us with a copy of the notice before a discussion occurs so we have the ability to review it. This can be done via email, facsimile or drop off. We would notify you of applicable fees before rendering any services.
Yes, clients should keep all their tax and supporting documentation for the current and prior seven (7) years. They should be prepared to provide any related information to requests they receive from third parties from their own documentation. Village Tax makes a record of the information they are legally required to. This does not include all documents needed to support the tax return.
An enrolled agent is a tax professional who is licensed to represent taxpayers before the IRS. They take an exam administered by the IRS to qualify for their designation. Enrolled agents are qualified by the federal government and are therefore allowed to practice in all states with their license, unlike CPA’s who are only qualified by each state to practice in that state . Also unlike CPA’s, an enrolled agent
specializes in taxation. Enrolled agents are required to complete 72 hours of continuing education every
three years to maintain their status.
The answer to this depends on the individual. Enrolled agents specialize in taxation, whereas CPA’s have a broader qualification in accounting which also includes the area of taxation. Either should be qualified to prepare a tax return, however, when choosing anyone to do your taxes you should look at the
number of years of experience they have specializing in taxation, as well as the quality of their experience.
Firstly their experience and qualifications, the more years of experience the better, and having a
qualification such as an EA or CPA is preferred. We would also suggest that you find out from the firm about their IT security. In this day and age this is essential. At a minimum the firm should discuss
firewalls, physical security of documents as well as engaging a firm to protect against hackers. We would also recommend that anyone you go to have at least one partner so that if something happens to
your specific preparer, there is someone to pick up your taxes in case of an emergency.