Do Taxpayers Want Less Aggressive Returns?

Stacy Wade, PhD, CPA, and Teresa Stephenson, PhD, CMA

In order to maintain a good relationship with their clients, tax preparers must understand their clients' objectives. A recent study indicates that taxpayers often perceive and expect their tax preparers to be less aggressive than they actually are. When individuals are asked why they hire a professional to prepare their return, “accuracy” rates higher than any other reason. Paid professionals, however, have long behaved as though “tax minimization” is the overriding concern. Recent legislation addressing preparer penalties may encourage tax preparers to discuss these expectations with their clients, fostering a better working relationship.