Been using this sweet older women as my tax preparer for years. IRS just informed me 3/11/13 (yesterday) she screwed up some paperwork on my 2010 return. I don't owe any money as I paid them what was due but they are fining me $5K for the missing paperwork since 3/15/11. She admitted to not sending it all. After some searching I find CPA's are regulated and insured but tax prepaprers are not. They have no responsibilities here and cannot be held liable. WHAT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I know I'm liable for my taxes but one would think some liability has to fall on the preparer who screwed up. If they are not liable and I have to follow up on all their work why would I need a tax prepaprer.
Yep, she is not regulated by the department of business regulations or the IRS.
So all I can say is make sure your preparer has ethics, insurance and will stand behind you.
Meeting with the IRS at 1:00 pm to try get out of this $5K they want by 3/21/13.
Mikey
I know I'm liable for my taxes but one would think some liability has to fall on the preparer who screwed up. If they are not liable and I have to follow up on all their work why would I need a tax prepaprer.
Yep, she is not regulated by the department of business regulations or the IRS.
So all I can say is make sure your preparer has ethics, insurance and will stand behind you.
Meeting with the IRS at 1:00 pm to try get out of this $5K they want by 3/21/13.
Mikey