Study Shows High Percentage of Errors by Turbotax and Unlicensed Tax Preparers

May 14, 2012 - PRLog -- Costa Mesa, CA. - According to the most recent report from the General Accounting Office, taxpayers overpay the IRS almost $1 billion every year due to incorrect itemization and preparation.

“Taxpayers who prepare their own taxes are the most vulnerable, but those who use ‘big chain’ preparers are just as bad off too,” said Tom Bass, Enrolled Agent.

The study included visits to 19 paid preparers. The most serious problems involved not reporting business income in 10 of 19 cases, failing to take the most advantageous post-secondary education tax benefit in 3 out of the 9 applicable cases, and failing to itemize deductions at all or failing to claim all available deductions in 7 out of the 9 applicable cases.

Bass’s company, Accountable Solutions, ensures that you keep as much of your hard-earned income as the IRS allows by putting each return through an extensive review process. They also provide a service that many tax businesses don’t: they will review their clients’ friends’ returns free of charge.

For more information on Tom Bass, visit www.directsellerstax.com.

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