Tax Strategies

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The Truth Behind Five Tax Myths

03/10/08 - 11:26 AM EDT

Simone Baribeau

There are obvious advantages to using a tax preparer. According to the GAO report, in 2002 taxpayers received an average of 65% more back using a paid tax preparer than by filing their own returns.

But one tax preparer isn't the same as another: Most states don't require any particular licensing for tax preparers. So anyone -- from a CPA or an attorney to a high-school dropout -- can legally prepare your taxes.

So take care when choosing a tax preparer, because no matter who does your taxes, you're responsible for extra taxes, fees and penalties from any mistakes.




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