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Should my Audit Firm Prepare My Tax Return?
Many nonprofits prefer that the audit firm also prepare the tax return. Because the audit represents ten times the hours of the tax work (and ten times the fee), selections are often based on the audit personnel without much consideration of the tax department. For this reason, many firms won’t even bring a member of the tax team to the interview. If they do, it indicates that the tax person presents very well or will give them some advantage.Audit firms vary in how they handle tax returns for audit clients. In smaller firms, the auditors themselves may prepare and sign...