Tax Preparers Not Regulated

[faster]

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

 

[Red C5]

Good luck with that battle. Sorry to hear. I wonder if H&R Block and some of these other places will stand behind their work like that?

 

[JP112_89]

That BS! Can't believe they don't stand behind their work.

I started doing my own taxes as of last year. It's easy.

Good luck,

Joe

 

[bison]

This sucks but it's the truth. Anyone can be a preparer.

 

[novaderrik]

i know a woman that got a degree from an online college (DeVry, i think) to become a tax preparer.. then she bought a really expensive version of the same software you can buy for $30 and wonders why no one will let her do their taxes..
i told her she was wasting her husband's money, but i guess it was better than getting a real job..

 

[DCVING 6]

My wife (CPA) laughs everytime she sees an H&R Block add. Read all the paperwork you sign from them when you get your taxes done. I'm sure they have something relieving them of any responsablility.

 

[Phoneguy]

Since I am my own tax preparer does that mean that I am not responsible for mistakes too???.......LOL
Sorry to hear , hope you come out OK with the IRS

Bryan

 

[faster]

Wow!!!!!!!!!!!!!!!!!!!

After about an hour in a room with three agents I got an abatement on the $4686.00 penalty.

Halelulah!!!!!!!!!!!!!!!!!!!!!!!!!!!

BUT I STILL HAVE TO PAY THE $14.00 INTEREST ON THE PENALTY.

Mikey

 

[turbot3.8]

H&R Block offers what's called "Peace Of Mind" an additional insurance you can buy when they do your taxes.

 

[BuickMike]

Sad. As with most things automotive and around the house I have no faith in the "professionals". I use TurboTax and do it all myself. Having a wife who is very organized and has an accounting degree helps a ton too.

 

[dr_frankenstein]

went to a tax prepairer to see what they could do.... i bested them by 1K and it was legal and legit.

this is how lazy people get taken advantage of!

 

[Phoneguy]

Wow!!!!!!!!!!!!!!!!!!!

After about an hour in a room with three agents I got an abatement on the $4686.00 penalty.

Halelulah!!!!!!!!!!!!!!!!!!!!!!!!!!!

BUT I STILL HAVE TO PAY THE $14.00 INTEREST ON THE PENALTY.

Mikey

SAWEET !!!!!

Bryan

 

[TRICKSIXPA]

I recommend everybody learn how to use Turbo tax or Tax Act. Tax preparers are now being told they have to take an IRS approved course before they can do work. I always tell people to stay away from the big companies like HR and Jackson Hewett. They charge a ridiculous amount of money for something that should cost no more than $30 to get. As for being fined by the IRS people forget even when someone does your taxes you are still responsible for their mistakes cause your the one who signs the return.

 

[Phoneguy]

Been using TaxAct for about 5 or 6 years myself...I used to do it all long hand...what a pain that was.

Bryan

 

[MeanBuicks]

I've been using Turbo Tax for well over 10 years now. Quick, easy, accurate and inexpensive.

 

[novaderrik]

takes me about 3 minutes to print out and fill out the 1040EZ...
takes maybe 5 minutes to do the M1 form for my Minnestota taxes, but only because they make you fill out a second form with your W2 info instead of just sending it in with the form..

yeah, life is much easier over here off the grid..

 

[Phoneguy]

takes me about 3 minutes to print out and fill out the 1040EZ...
takes maybe 5 minutes to do the M1 form for my Minnestota taxes, but only because they make you fill out a second form with your W2 info instead of just sending it in with the form..

yeah, life is much easier over here off the grid..

I have way too many write-offs to use an EZ form.....those were the days

Bryan

 

[charlief1]

I have way too many write-offs to use an EZ form.....those were the days

Bryan

If you'd stop blowing engines and trannys up you wouldn't have that many deductions Bryan. You knew it was going to happen.

 

[Phoneguy]

If you'd stop blowing engines and trannys up you wouldn't have that many deductions Bryan. You knew it was going to happen.

I'm going to go back a few years on my taxes now and figure in the motor loss costs and re file , I never thought of writing it off , that should be a medical deduction right ? It does cause my blood pressure to go up ...

Charlie you should be able to write your entire car off ...that's an EPA deduction for landfill clean up ...

Bryan

 

[dr_frankenstein]

Charlie you should be able to write your entire car off ...that's an EPA deduction for landfill clean up ...

Bryan

ROTFLMMFAO!

oh man my sides are bustin!