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CPA liability
Posted on 12/2/18 at 2:22 pm
Posted on 12/2/18 at 2:22 pm
What is a cpa liability for a tax return mistake? A friend had a cpa double file a deduction and now owes a few thousand dollars. What is the CPA responsible for in this scenario?
3
Posted on 12/2/18 at 2:31 pm to GeauxTigers777
I would expect the CPA to pay for the penalties/interest component.
Posted on 12/2/18 at 8:21 pm to GeauxTigers777
He friend owes the tax. It is his return and he would have signed off on before filing, as correct.
CPA should file an amended return at no charge and pay all penalties and interest.
CPA should file an amended return at no charge and pay all penalties and interest.
Posted on 12/2/18 at 8:21 pm to kaaj24
quote:
I would expect the CPA to pay for the penalties/interest component.
This.
The guy owes the taxes. He doesn’t get a payout because someone got his hopes up and then disappointed him.
Posted on 12/3/18 at 10:43 am to GeauxTigers777
I had a similar issue recently that I posted here about. I haven't officially discussed it with my CPA, but I will be next time we meet.
The general consensus as said above is the taxes are absolutely due, so nothing around that. But that if it was an actual mistake by the CPA then they should pay any penalties owed.
My CPA basically told me tough shite and didn't offer anything or any condolences. I'm going to tell them tough shite that's strike 1 and 2, and 3 I'll be taking my business elsewhere. 1 for the mistake and 2 for not offering anything.
Without knowing more details, your buddy needs to sit down with his CPA and figure out what happened. I don't double check my work as well as I should from my CPA. So I took partial blame, but I pay them and really I should not have to.
The general consensus as said above is the taxes are absolutely due, so nothing around that. But that if it was an actual mistake by the CPA then they should pay any penalties owed.
My CPA basically told me tough shite and didn't offer anything or any condolences. I'm going to tell them tough shite that's strike 1 and 2, and 3 I'll be taking my business elsewhere. 1 for the mistake and 2 for not offering anything.
Without knowing more details, your buddy needs to sit down with his CPA and figure out what happened. I don't double check my work as well as I should from my CPA. So I took partial blame, but I pay them and really I should not have to.
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