recommend a CPA

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(Baton Rouge area)

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I used Daigrepont & Brian. So far so good. Not in real estate though.

P&N.

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P&N

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Avoid P&N at all costs if you're trying to retain any profits.

I received a $7500 notice of deficiency from the IRS. After I had a CPA friend write up the changes that needed to be made in order to get it down to around $4000, I turned all of the information over to P&N. They waited until the 11th hour to turn everything in but assured me everything would be ok, well the IRS not have time to process it before they gave me my refund. I just got my adjustment letter today and the IRS reduced the amount to $7100. Normally a $400 reduction would be cool but P&N charged me $800.

Moral of the story by using P&N I had to pay $400 more than if I would have just cut a check to the IRS day 1

Were they suppose to prepare and file all the paper work for free?

All of the heavy lifting was done. It shouldn't cost $800 to amend a return when they only charged my gf $400 to originally file her taxes which are way more complex.

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All of the heavy lifting was done

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What do you mean by that? The firm still had to analyze everything you have them, and then process the amended return.

A firm like P&N (I don't work there but I know a whole bunch of their guys and gals) is going to provide high quality tax services for high complex situations. Their rates are high. A smaller firm probably could have done it for less than $800 and probably could have done it faster.

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when they only charged my gf $400 to originally file her taxes which are way more complex

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I've never seen them get a 1040 out the door for $400. Does she have a business return that they also file, that maybe they stuck a lot of the cost on the business return?

Also, you said earlier that by filing late they cost you some money. You should end up in the same place - if IRS scooped the current year refund before they processed the prior year amendment, when they process the amendment, you will now have an overpayment on the amended year and they will refund that money to you. It will take longer, yes, but in the end you should be in the same place.

ETA: What I'm trying to say is that P&N is a great shop but if you have a simple 1040, their prices will probably be in excess of what you need, and since your return is very small to them, they probably won't rush to complete it.

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They do LOTS of 1040s for $350.

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Interesting.

We get a decent amount of business from people leaving them because of fees. Returns that I can do for $500 that they were charging $800-$900.

I guess if they are doing some returns for $350, with their name behind it, they would have some clients that ain't ever leaving.

I think P&N should have had a candid discussion with him regarding the cost and likely outcome of the amended return so he would have had a better understanding of the total economic impact of amending the return. If P&N knew their internal procedures, designed to meet their quality controls, would raise the cost to prepare the amended return beyond the value of the amended return, then they should have advised the client.

As for the turn around time for the project, there is no reason why it should have run into a deadline unless the amended return was prepared during busy season. It was no more than a 2 hour task for a staff level accountant.

Why didn't your CPA buddy do the amendment to get it down to $4000 instead of just telling you what to do?