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	Need Help Immediately? 866-331-1040 How much should Tax Preparation cost?

March 9, 2006 -The National Society of Accountants (NSA) found the answer. It surveyed 1,371 accountants nationwide to find out the mean cost of preparing a variety of tax returns.  For example, NSA found the mean cost of preparing a non-itemized Form 1040 to be $110 For an itemized Form 1040 with Schedule A, the cost is $201. 

Where you live can make a difference in the fee you pay. For example, accountants in the Midwest charge a mean of $96 (non-itemized Form 1040) and $163 (itemized Form 1040), while those in the Northeast, South, and West charge between $111- $116 for a non-itemized return and between $205- $226 for an itemized return.

"Independent accountants who belong to NSA provide an important service to millions of taxpayers each year, and this survey helps consumers understand the typical rates for tax preparation services," said NSA President Wanda Samek, a principal in the Denton, Texas accounting firm of Custom Business Service, Inc.  "Tax laws grow more complex every year, and NSA offers a range of educational programs to keep our members current on the latest changes so they can provide the best possible service to clients."  The mean cost for preparing other types of tax returns includes:

$165 for a Schedule E (Rental) $207 for a Schedule F (Farm) $477 for a Form 1065 (Partnership) $640 for a Form 1120 (Corporation) $624 for a Form 1120S (S Corporation) $386 for Form 1041 (Fiduciary) $1,732 for Form 706 (Estates) $449 for Form 990 (Tax Exempt)

The survey also found that taxpayers are increasingly choosing to file returns electronically, a service that most accountants offer.  More than 70 percent of all returns that can be filed electronically are submitted that up more than 20 percent over the last three years.  To electronically file a return there is an addition cost of $23.

Hourly fees for accountants to provide tax services average $109, while hourly fees for estate and financial planning average $123.   Like most other services, tax preparation fees are increasing.  NSA reports that accountants raised their tax preparation fees 6.5 percent in 2005, and expect fees to rise 6.8 percent in 2006.  NSA and its affiliates represent 30,000  members.

The general information in this publication is not intended to be nor should it be treated as tax, legal, or accounting advice. Additional issues could exist that would affect the tax treatment of a specific transaction and, therefore, taxpayers should seek advice from an independent tax advisor based on their particular circumstances before acting on any information presented. This information is not intended to be nor can it be used by any taxpayer for the purpose of avoiding tax penalties.

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