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Started By
Message
CPA error on return suggestions
Posted on 11/9/18 at 9:30 am
Posted on 11/9/18 at 9:30 am
My CPA somehow reported one of my estimated tax payments as being roughly $5000 higher than they told me to pay. So I rightly owe roughly that plus about $250 in late fees and interest. They reported the same payment for 2017 as 2016, and it had changed and I have an email with record telling me to make the lower payment.
I know I should have double checked the work but it was a pretty obvious screw up on their part.
Is it fair to ask for my consultation meeting coming up to be comp’d due to the mistake? I’m not really upset, but I feel like I have a $250 consequence due to their mistake and they should be penalized to a degree also?
Suggestions?
I know I should have double checked the work but it was a pretty obvious screw up on their part.
Is it fair to ask for my consultation meeting coming up to be comp’d due to the mistake? I’m not really upset, but I feel like I have a $250 consequence due to their mistake and they should be penalized to a degree also?
Suggestions?
4
Posted on 11/9/18 at 9:37 am to baldona
my small business ($7-10MM) obviously has a CPA review our books and prepare our reports. we have never in 13 years paid for a meeting with them, much less a meeting to discuss a mistake they made
Posted on 11/9/18 at 9:44 am to baldona
quote:
Is it fair to ask for my consultation meeting coming up to be comp’d due to the mistake? I’m not really upset, but I feel like I have a $250 consequence due to their mistake and they should be penalized to a degree also?
Any decent firm should pay for the late fees and interest. If they don't offer to pay, I'd seriously consider finding another CPA.
Posted on 11/9/18 at 9:49 am to cgrand
quote:
my small business ($7-10MM) obviously has a CPA review our books and prepare our reports. we have never in 13 years paid for a meeting with them, much less a meeting to discuss a mistake they made
My business is smaller. I pay about $1200 in tax preparation plus I pay them for 2-3 hours of consultation time a year. I'm not upset about those charges at all. Its mostly for my peace of mind.
Posted on 11/9/18 at 9:55 am to baldona
It’s certainly fair to ask. You pay them to mitigate errors you may have made yourself.
As long as you feel comfortable asking go for it. Somebody made a mistake and I’m sure they aren’t happy about it and want to keep your business
As long as you feel comfortable asking go for it. Somebody made a mistake and I’m sure they aren’t happy about it and want to keep your business
Posted on 11/9/18 at 11:32 am to OceanMan
Ok so my OP was slightly off after reading a bunch of emails.
My CPA suggested my April Extension payment be $8000 based off of a suggested Q3 payment of $5000. My actual Q3 payment was $9500, so I adjusted my April Extension to $3500. (8000-((9500-5000)).
My CPA went off my actual Q3 of $9500 and my suggested April extension of $8000. So I had a $4500 underpayment.
Instead of going off of both actual payments, which I did confirm with them. They would have also been right to go off of both suggested payments. Either way would have shown the underpayment.
So how big of a mistake is this? I really don't know. I would assume CPA's make mistakes on returns very rarely.
My CPA suggested my April Extension payment be $8000 based off of a suggested Q3 payment of $5000. My actual Q3 payment was $9500, so I adjusted my April Extension to $3500. (8000-((9500-5000)).
My CPA went off my actual Q3 of $9500 and my suggested April extension of $8000. So I had a $4500 underpayment.
Instead of going off of both actual payments, which I did confirm with them. They would have also been right to go off of both suggested payments. Either way would have shown the underpayment.
So how big of a mistake is this? I really don't know. I would assume CPA's make mistakes on returns very rarely.
This post was edited on 11/9/18 at 11:36 am
Posted on 11/9/18 at 12:59 pm to baldona
quote:
Is it fair to ask for my consultation meeting coming up to be comp’d due to the mistake? I’m not really upset, but I feel like I have a $250 consequence due to their mistake and they should be penalized to a degree also?
If he doesn't offer to knock the costs off your next bill, then yes it is fair to ask. CPA here fyi.
Posted on 11/9/18 at 1:39 pm to baldona
quote:If I am understanding correctly, it sounds as if you decided to vary from their suggested extension payment. How were they to know that you were not going to make the payment they suggested you make on your extension? Sounds like it may just have been a misunderstanding on your part.
My CPA went off my actual Q3 of $9500 and my suggested April extension of $8000. So I had a $4500 underpayment.
Posted on 11/9/18 at 2:11 pm to NOSHAU
My payment I made added up to the total they estimated I owed. Otherwise I would have had a $4500 overpayment. It was an up and down year, my wife quit a job to work for herself, etc.
But in September when they were finalizing my return, I gave them all of the accurate up to date payments. They went off of the April estimation for some reason for 1 payment but not the other actual payments.
I’m not disagreeing it was confusing, but my business fluctuates quite a bit so they are used to my estimated payments fluctuating.
But in September when they were finalizing my return, I gave them all of the accurate up to date payments. They went off of the April estimation for some reason for 1 payment but not the other actual payments.
I’m not disagreeing it was confusing, but my business fluctuates quite a bit so they are used to my estimated payments fluctuating.
Posted on 11/9/18 at 6:23 pm to baldona
Looks like the underpayment is on you
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