Did you know that a lot of a tax preparer’s job is about looking at the past?

They prepare your taxes based on what happened in the previous year.

Once the clock strikes midnight on December 31st, your tax situation is pretty much locked in. No more changes, no fixes, no savings to be claimed retroactively.

Their Importance: To make sure you comply with the laws the IRS has set, to avoid additional penalties, fees, etc.

Note: there are caveats to this such as amendmentsand etc, however this is typically how an average tax return preparation goes.

Tomorrow I’ll explain what Tax Resolution/Representation is.

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