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cial preparers is that the taxpayer receives little tax-planning advice.
Licensed preparers have two distinguishing features.
They are regulated by the state (lawyers and CPAs) or by the IRS (EAs) and are required to take a mini-* mum number of hours of continuing professional education to maintain their licenses. EAs also are required to submit to background security checks.
They are recognized by the IRS and may represent taxpayers in audits and all other administrative matters. They may represent the taxpayer in the taxpayer’s absence.
Of the professional tax services, lawyers are generally the most expensive. They are best used when dealing with complicated areas of the law or where the interpretation of contracts, trusts and business agreements will affect a tax situation.
CPAs are less expensive and are best used when complicated accounting issues are involved. Many CPAs also are specialists in small- business taxes and general business consulting.
Finally, enrolled agents are probably
See EXPERTS, Page 7
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