QUESTION
Can a Tax Preparer be accountable for not preparing my income tax correctly?
Asked on Aug 10th, 2013 on Taxation - California
4 ANSWERS
Bruce Givner
Yes, a preparer can be accountable for not preparing your income tax return correctly. The damages would be limited to (i) the fees you were charged by the preparer; (ii) the cost of the audit (fees paid to the person who handled it); and (iii) tax penalties. The taxes you pay and the interest you pay are not damages.
Answered on Aug 16th, 2013 at 9:25 PM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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Yes, but he would not be liable for any excess tax that you owed. He would simply be liable for penalties, interest, and the cost of fixing the problem.
Answered on Aug 16th, 2013 at 9:25 PM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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A tax preparer is subject to standards of professional care. If the problem was due to his or her negligence or error, then the accountant would be liable. If you failed to inform the accountant of something, then it is not the accountants fault.
Answered on Aug 16th, 2013 at 9:25 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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Yes. The taxpayer has to be familiar with the IRS regulations regarding tax preparers.
Answered on Aug 16th, 2013 at 9:25 PM