Tax preparation is the process of preparing income tax returns, often for a person other than the taxpayer, and generally for compensation. Tax preparation may be done by the taxpayer with or without the help of tax preparation software and online services. Tax preparation may also be done by a licensed professional such as an attorney, certified public accountant or enrolled agent, or by an unlicensed tax preparation business.
Current research indicates that individuals are likely to make errors while preparing their tax returns. A tax return preparer is trusted with your most personal information. They will be aware about your martial status, your income, your children and your social security numbers the details of your financial life. which leads to greater tax savings and tax benefits.