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tax liability

i hve had cpa's do my taxes for years but discovered major errors--i probably will be liable for taxes. i recognize that when i sign the tax form i am in essece saying that this is correct--i assume that the tax prepares is in essence saying the same thing

my liabilty maybe thousands of dollars and tons of aggrevation

what is my best way to approacte this problem--i feel that the cpa firms bear some responsibilty here andd i suspect that the taxware people also bear some responsibilty any comments really are appreciated

tia peter

Reply to
ilaboo
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"ilaboo" wrote

I'll just say that your cryptic writing is going to be a real problem for you in any court.

I trust you wrote things in plain - commonly used - English.

That being said, if there is a problem with your returns, and if there is some liability on the part of the paid return preparer, the reputable ones will do whatever the can to reasonably make it correct. They won't however, be responsible for the actual tax due, but should cover any penalties - if you work with them to get the problem fixed in a timely manner. The software company bears no responsibility at all in this, and certainly none to you, as you aren't their client.

Get your facts straight. Talk to the former tax preparation firm about what they plan to do to make it right.

Reply to
Paul Thomas, CPA

What kinds of errors? Are you positive these are not due to you giving incorrect information to your CPA? We can only prepare returns with the information provided. The typical transmittal letter says that the information provided has not been audited. I would contact your CPA and very diplomatically approach the situation, explaining what you have discovered.

Reply to
Mike20878

cpa got all my income including interest from t.bills

hth peter

Reply to
ilaboo

Well, what kinds of errors are you talking about?

Katie in San Diego

Reply to
Katie

You need to explain further. If you are claiming he overstated income then you would be due a refund. However, US government interest is taxable for Federal, but not for state taxes.

Reply to
Mike20878

it clear what kind of error occurred. State and municipal interest should not be taxed on the federal return unless AMT is affected by private activity bonds included in the interest received. Some of the interest may be subject to state tax. But if the CPA was not provided with sufficient information, he might have been unaware of the taxable portion. Maybe he should have questioned it.

Reply to
taxxcpa

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