QUESTION
Would I owe taxes to the IRS if some in Chamblee, GA prepared my 2008 taxes and now the IRS is stating that I owe them back taxes, interest & fees?
Asked on Jul 14th, 2011 on Taxation - Georgia
More details to this question:
I cashed out a 401k in 2007 and rolled some of that money into a bank IRA. The IRA made no money, so I decided to pull it out of the bank IRA and pay down some personal debt. Would the tax preparer have liability in my case? Nex, would the tax preparer be required to carry errors and omissions insurance if licensed in the State of GA? Also,would he or his company be held liable since he died he passed away late 2010? One of his friends purchased the company from him and is using the same name, would that company now be liable if I gave this tax preparer all of my tax documents the day he prepared my 2008 tax forms?
1 ANSWER
2 Awards
1. Unfortunately, even if a licensed tax preparer prepared your tax return, you may still be required to pay your tax liability if the IRS correctly determines you owe the liability. As the taxpayer, it is your responsibility to submit an accurate tax return, this means even if you didn't prepare the return and know about the mistake, you are still on the hook for the tax liability. Before you pay the tax the IRS claims you owe, you may want to have a CPA or tax attorney in Georgia review the returns to determine if the IRS is correct in their assessment. 2. As a general rule, tax preparers could be liable for incorrect returns if it is negligent or intentional. I would speak to a civil litigation attorney for more information.
Get tax help now and contact Atlanta tax attorney and CPA Jeffrey S. Gartzman today.Phone: 770-939-7710 | Fax: 770-939-7743
Address: 2851 Henderson Mill Road Atlanta GA 30341
http://www.gartzmantaxlaw.com/
Answered on Oct 13th, 2011 at 4:33 PM