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"I have recourse on the firm" Don't know about your firm but for our 7 figure business, I was paying a firm 6k+ just for taxes (no help with anything else, no
by codegeek 4y ago
"I have recourse on the firm"
Don't know about your firm but for our 7 figure business, I was paying a firm 6k+ just for taxes (no help with anything else, no strategy on tax savings) and they all make you sign a 0 liability thing. Ultimately, it is on YOU if you screw up your taxes and not the tax preparer. Fraud may be an exception but unless you can prove that, IRS will ultimately hold you responsible for mistakes, not the preparing firm.
I bet you are signing that fine print somewhere.
- fbdab103 4y agoEven if there is no true protection, I look at it that the professional is less likely to make a mistake than myself. If I make a mistake that later requires further review/justification, that is a true loss.