File Prior Returns – Do I Need Help Filing Prior Returns?

Posted on 03. Jul, 2012 by in File Prior Taxes, Prior Tax Returns

The short answer is, if you need to file prior returns, you need help from a CPA.  Still, it is understandable that some would want to take the chance and do it themselves.  Many do not see it as taking a chance at all, but rather they see using someone to do work they feel capable of doing themselves as lazy.  The feel it is a waste of money to pay someone to do a job they can do themselves.  The problem is, this is not like cleaning a home or mowing a lawn.  Even if you have the time to file your own prior returns, you are likely not as qualified to do so as you may think.

That is not to say that anyone who is not a CPA is not intelligent, but CPAs are specially trained to mitigate the many risks involved when it comes to prior year returns.  If you have very simple returns that you have simply neglected to do, it may be fine to do them yourself, but there are some signs to look for that may indicate you especially need to enlist a professional to help.

The first sign is that you may need some help when you file prior returns is that you are not sure where to start.  Another sign can be that you get started, but you still have a nagging feeling that you are missing something.  Though it is possible you are not, it is more likely when it comes to prior taxes that you are.  Hiring a CPA to help file prior returns offers peace of mind, and it can actually save money in the long run.

Of course you have to pay for the services, but if you file prior returns yourself and miss something, you could cost yourself a lot more in the long run.  Filing returns late increases the amount owed anyway with penalties and interest.  The last thing you need is to miss a deduction, or leave out income that could result in even more penalties.  Spending the time and money necessary to get a CPA on board in the beginning is well worth it.

We are a CPA firm and we deal specifically with clients who need to file prior tax returns.  Call us today for a FREE consultation at 1-888-570-1033.

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