Most people who engage in any form of arbitrage know that they need to hire an arbitrage services firm when tax season rolls around. There’s a couple reasons for this. For one thing, arbitrage is quite complex, and so only CPAs really understand how it all works and what things need to be done to ensure that a person is compliant with the IRS. Second, the rules and regulations surrounding arbitrage are constantly being changed and updated, so unless you have time to read through all of the changes each time they come out, you’re not going to understand them all. CPAs do because that’s their job, and so most people turn to arbitrage services firms to take care of their calculations during tax season.
Of course, finding a high-quality arbitrage services firm can be difficult. Since most people don’t have a strong grasp on arbitrage or the rules and regulations governing it, they don’t know the difference between a quality arbitrage services firm and one that’s no great. Here are a couple of things to look for in such a firm. Hopefully, this list will help you determine which firm you should hire.
One of the first things to look for in a firm that specializes in arbitrage compliance is that they have a history of success. There are some firms out there that frequently make mistakes that put their customers at risk of litigation. These are the kinds of firms that you want to avoid. Instead, you want a firm that gets their arbitrage calculations and arbitrage rebate calculations right every single time. A good example of such a firm is Arbitrage Compliance Specialists. They’ve been practicing for more than 30 years, and during that time they’ve never made a single error. That’s the kind of thing that instills confidence in their customers.
The second thing to look for in an arbitrage services firm is that they have a lot of experience. The firms that have been working in this field for a long time have seen a thing or two, and they know exactly how to calculate arbitrage rebates for each of their customers. They also have a better understanding of how rules and regulations change over time, so they’re more prepared for the changes that are coming down the pike.
Third, you want to work with an arbitrage services firm that has a tax attorney on staff. This is important because there’s always the outside chance that the IRS is going to audit you and try and take you to court. When you have a tax attorney in your corner, you’re more confident knowing that you’ve got an expert who’s willing to defend you. This helps to create peace of mind, and gives you confidence when you get the notice from the IRS. Of course, you want to make sure you hire a firm with a tax attorney who’s proven that they know what they’re doing. Look for a firm with a good track record of defending each and every one of their clients against the IRS.