๐‚๐ก๐จ๐จ๐ฌ๐ข๐ง๐  ๐ญ๐ก๐ž ๐‘๐ข๐ ๐ก๐ญ ๐“๐š๐ฑ ๐๐ซ๐ž๐ฉ๐š๐ซ๐ž๐ซ: ๐€ ๐’๐ญ๐จ๐ซ๐ฒ ๐ฐ๐ข๐ญ๐ก ๐š ๐‹๐ž๐ฌ๐ฌ๐จ๐ง

๐‚๐ก๐จ๐จ๐ฌ๐ข๐ง๐  ๐ญ๐ก๐ž ๐‘๐ข๐ ๐ก๐ญ ๐“๐š๐ฑ ๐๐ซ๐ž๐ฉ๐š๐ซ๐ž๐ซ: ๐€ ๐’๐ญ๐จ๐ซ๐ฒ ๐ฐ๐ข๐ญ๐ก ๐š ๐‹๐ž๐ฌ๐ฌ๐จ๐ง

In New York City, two lifelong friends, Maharshi Chanv and Meet Sakariya, were pursuing their dreams โ€” Maharshi Chanv wanted to be a professional soccer player and Meet Sakariya aspired to be an inventor. But life took an unexpected turn, ๐—น๐—ฒ๐—ฎ๐—ฑ๐—ถ๐—ป๐—ด ๐—ฏ๐—ผ๐˜๐—ต ๐˜๐—ผ ๐—ณ๐—ฎ๐—ฐ๐—ฒ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐—ถ๐—ฒ๐˜€ ๐—ณ๐—ผ๐—ฟ ๐˜ƒ๐—ถ๐—ผ๐—น๐—ฎ๐˜๐—ถ๐—ป๐—ด ๐˜๐—ฎ๐˜… ๐—น๐—ฎ๐˜„๐˜€. Hereโ€™s what happened:

During school, Meet Sakariya fell deeply in love with a short-statured girl. Obsessed with her, he became disconnected from the realities of life. One day, the girl approached Meet for help starting her career as a professional tax preparer. ๐—ฆ๐—ต๐—ฒ ๐—ฐ๐—ผ๐—ป๐˜ƒ๐—ถ๐—ป๐—ฐ๐—ฒ๐—ฑ ๐—ต๐—ถ๐—บ ๐˜๐—ต๐—ฎ๐˜ ๐˜€๐—ต๐—ฒ ๐˜„๐—ฎ๐˜€ ๐—ฎ ๐˜๐—ฟ๐˜‚๐˜€๐˜๐˜„๐—ผ๐—ฟ๐˜๐—ต๐˜† ๐—ฝ๐—ฟ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ฟ ๐˜„๐—ถ๐˜๐—ต ๐—ฎ ๐˜ƒ๐—ฎ๐—น๐—ถ๐—ฑ ๐—น๐—ถ๐—ฐ๐—ฒ๐—ป๐˜€๐—ฒ ๐˜๐—ผ ๐—ฝ๐—ฟ๐—ฎ๐—ฐ๐˜๐—ถ๐—ฐ๐—ฒ.
Excited, Meet recommended her to Maharshi as well. ๐—•๐˜‚๐˜ Maharshi Chanv, ๐—ฏ๐—ฒ๐—ถ๐—ป๐—ด ๐—ฐ๐—ฎ๐˜‚๐˜๐—ถ๐—ผ๐˜‚๐˜€, ๐—ฎ๐—ฑ๐˜ƒ๐—ถ๐˜€๐—ฒ๐—ฑ Meet Sakariya ๐˜๐—ผ ๐˜ƒ๐—ฒ๐—ฟ๐—ถ๐—ณ๐˜† ๐˜€๐—ผ๐—บ๐—ฒ ๐—ธ๐—ฒ๐˜† ๐—ฝ๐—ผ๐—ถ๐—ป๐˜๐˜€ ๐—ฏ๐—ฒ๐—ณ๐—ผ๐—ฟ๐—ฒ ๐—ฒ๐—ป๐˜๐—ฟ๐˜‚๐˜€๐˜๐—ถ๐—ป๐—ด ๐—ต๐—ฒ๐—ฟ ๐˜„๐—ถ๐˜๐—ต ๐˜๐—ฎ๐˜… ๐—ฝ๐—ฟ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป:

๐—ฅ๐—ฒ๐˜ƒ๐—ถ๐—ฒ๐˜„ ๐—ฃ๐—ฟ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ฟโ€™๐˜€ ๐—›๐—ถ๐˜€๐˜๐—ผ๐—ฟ๐˜†: Check for disciplinary actions and license status on platforms like BBB or the IRS Directory.
๐—˜๐—ป๐˜€๐˜‚๐—ฟ๐—ฒ ๐—ฎ ๐—ฉ๐—ฎ๐—น๐—ถ๐—ฑ ๐—ฃ๐—ง๐—œ๐—ก: Verify that the preparer has a valid Preparer Tax Identification Number and is willing to sign the return.
๐—”๐˜ƒ๐—ผ๐—ถ๐—ฑ ๐—ฃ๐—ฒ๐—ฟ๐—ฐ๐—ฒ๐—ป๐˜๐—ฎ๐—ด๐—ฒ-๐—•๐—ฎ๐˜€๐—ฒ๐—ฑ ๐—™๐—ฒ๐—ฒ๐˜€: Steer clear of preparers who base their fees on the refund amount.
๐—ข๐—ฝ๐˜ ๐—ณ๐—ผ๐—ฟ ๐—œ๐—ฅ๐—ฆ ๐—ฒ-๐—ณ๐—ถ๐—น๐—ฒ: Electronic filing with direct deposit ensures faster refunds, typically within 21 days.
๐—ฅ๐—ฒ๐—ฐ๐—ผ๐—ฟ๐—ฑ๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฅ๐—ฒ๐—ฐ๐—ฒ๐—ถ๐—ฝ๐˜๐˜€: Reliable preparers request proper documents like W-2s, not pay stubs, for accurate filing.
๐—ง๐—ฎ๐˜…๐—ฝ๐—ฎ๐˜†๐—ฒ๐—ฟโ€™๐˜€ ๐—–๐—ผ๐—ฝ๐˜†: Ensure the preparer provides a copy of the return before filing.
๐—ฅ๐—ฒ๐—ณ๐˜‚๐—ป๐—ฑ ๐—›๐—ฎ๐—ป๐—ฑ๐—น๐—ถ๐—ป๐—ด: Refunds should always go directly to the taxpayer, not the preparer.

Ignoring Maharshiโ€™s advice, Meet fully trusted his girlfriend and even signed his return without review. A few months later, ๐—ฏ๐—ผ๐˜๐—ต ๐—ณ๐—ฟ๐—ถ๐—ฒ๐—ป๐—ฑ๐˜€ ๐—ฟ๐—ฒ๐—ฐ๐—ฒ๐—ถ๐˜ƒ๐—ฒ๐—ฑ ๐—œ๐—ฅ๐—ฆ ๐—ป๐—ผ๐˜๐—ถ๐—ฐ๐—ฒ๐˜€ ๐—ณ๐—ผ๐—ฟ ๐—ถ๐—ป๐—ฎ๐—ฐ๐—ฐ๐˜‚๐—ฟ๐—ฎ๐˜๐—ฒ ๐—ฟ๐—ฒ๐˜๐˜‚๐—ฟ๐—ป๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฟ๐—ฒ๐—ณ๐˜‚๐—ป๐—ฑ๐˜€ ๐˜๐—ต๐—ฒ๐˜† ๐—ป๐—ฒ๐˜ƒ๐—ฒ๐—ฟ ๐—ฟ๐—ฒ๐—ฐ๐—ฒ๐—ถ๐˜ƒ๐—ฒ๐—ฑ. Shocked and confused, they sought help from tax professionals CA Harsh Makharia, EA and CA Jugal Thacker, who advised them to file ๐—™๐—ผ๐—ฟ๐—บ ๐Ÿญ๐Ÿฐ๐Ÿญ๐Ÿฑ๐Ÿณ, ๐—ฎ ๐—ฐ๐—ผ๐—บ๐—ฝ๐—น๐—ฎ๐—ถ๐—ป๐˜ ๐—ฎ๐—ด๐—ฎ๐—ถ๐—ป๐˜€๐˜ ๐˜๐—ต๐—ฒ ๐˜๐—ฎ๐˜… ๐—ฝ๐—ฟ๐—ฒ๐—ฝ๐—ฎ๐—ฟ๐—ฒ๐—ฟ.

This action led to the IRS penalizing Meetโ€™s girlfriend for breaching tax laws.

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