What is an EFIN?

What is an EFIN in relation to tax preparation and why does it enhance trust of an online tax preparer? 

EFIN stands for Electronic Filing Identification Number, and it is a unique number assigned to tax preparers by the Internal Revenue Service (IRS) to identify them as authorized e-file providers. 

Tax preparers are required to have an EFIN in order to file tax returns electronically on behalf of their clients. Obtaining an EFIN requires passing an IRS background check and meeting certain eligibility requirements, including demonstrating a basic understanding of tax laws and regulations. 

Having an EFIN enhances trust in an online tax preparer because it demonstrates that

 the preparer has been vetted by the IRS and is authorized to file tax returns electronically. It also indicates that the preparer has met certain qualifications and is knowledgeable about tax laws and regulations, which can help to ensure that tax returns are prepared accurately and in compliance with applicable laws and regulations. 

Additionally, the IRS monitors tax preparers with EFINs to ensure that they are following proper procedures and providing quality service to their clients. This oversight can provide an additional layer of protection for taxpayers who use online tax preparation services.

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