Yes. A qualified tax professional with all of the facts at his or her disposal can determine the appropriateness of the application of any tax law to your given situation.
Every year there are numerous changes to the tax laws and the tax code. IRS Code sections now number from 1 to over 9,800 and encompass more than 11,000 pages. Frequently, provisions are added while others expire. Some are indexed for inflation, so they change as well. Still others are subject to phase-outs amounts and limitations. Some are effective at the beginning of the year while others become effective on the date a particular bill or law is signed. The tax code and regulations are very complex and Congress is continually changing the tax laws.
Professional tax practitioners, such as EAs and CPAs take continuing education courses each year to keep up with the changes and also have research tools at their disposal to constantly monitor the updates. Most taxpayers do not have the time or the research tools to read the volumes of material that are added to or deleted from the tax code each year. That is why is it important to choose a tax professional, such as an EA or a CPA, who keeps up with the rules and regulations and uses this expertise to do the best job possible for their clients.
Often a skilled tax professional will actually cost you less money than if you prepared your own tax return. All he or she would need to do is to find one additional deduction or credit that applies to your circumstance, which you would have missed. Also, the tax professional will frequently keep you out of trouble with the IRS by matching tax reporting documents properly, or by correcting erroneous ones.