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Cpa Review
Cpa Review

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About the Author

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Review of CPA Exam Prep Materials
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.

If one can read and follow tax software is it useful to still have a CPA review your tax return?

Can the CPA find some little known tricks of the trade to help you legally pay less tax, assuming you already followed the software properly on your own? Example: TurboTax, TaxCut, TaxAct.

First off - I take offense to what one the other responders said. All CPA's are required to have continuing education each year (requirement are determined by the state(s) that a CPA is licensed in) and all CPA's who are tax practitioners take CPE in Taxation. Tax practitioners are extremely up-to-date on current tax issues in order to provide the best service to their clients. We also have very strict requirements on education and experience before we can get our CPA license.

That said, I think enrolled agents provide a very necessary service for some taxpayers, especially those who have prepared their own returns but need representation with the IRS.

In answer to your question, while it could be useful to have a tax practitioner (be it CPA, tax prep business or enrolled agent) review your return, it may not be practical. If you have a pretty simple return (some wages, interest income, itemized deductions) then it would not be efficient. More complex returns would not be a bad idea. The problem is you have to pay the practitioner to review the file and I know that they will not charge significantly less than what they might charge to prepare the return. To have your return competently reviewed they will need to review all your back-up documentation and the review could take time. You would need to discuss the fees involved before you do this. There are no tricks of the trade to be found. A practitioner might ask questions about your finances or activities during the year that might lead to additional deductions or credits that you may not realize you had available to you that the software might not automatically count, but that is probably a pretty slim chance.

Wiley CPA Review Online Test Bank - AUD Sampling #1