http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/ A Norwalk Accountant Group Sun, 11 Apr 2010 17:39:16 +0000 http://wordpress.org/?v=abc hourly 1 http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/comment-page-1/#comment-400 the tax lady Thu, 26 Nov 2009 15:46:14 +0000 http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/#comment-400 i dunno. i dunno.

]]> http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/comment-page-1/#comment-399 Beverly S Thu, 26 Nov 2009 15:13:39 +0000 http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/#comment-399 Yes, it can bite you. Ask your friend did he look at every line of the return? Did he RECOGNIZE every deduction or credit? If yes, that's okay. That's the whole point of using a preparer--they know what can be deducted even if you don't. On the other hand, is there income that he doesn't recognize as his? Is there a bizarre credit that he's never heard of? Did he suddenly itemize and claim charitable and business deductions he never made? If yes, the tax return is fraudulent and can come back to haunt him 3,4,6,10 years down the line. If any return is marked as fraud with a preparer, the IRS will pull ALL of the returns that preparer did looking for fraud. Since the TP signs the return under penalties of perjury, he is just as guilty and there is no statute on fraud. Yes, it can bite you.
Ask your friend did he look at every line of the return?
Did he RECOGNIZE every deduction or credit?
If yes, that’s okay. That’s the whole point of using a preparer–they know what can be deducted even if you don’t.
On the other hand, is there income that he doesn’t recognize as his? Is there a bizarre credit that he’s never heard of? Did he suddenly itemize and claim charitable and business deductions he never made? If yes, the tax return is fraudulent and can come back to haunt him 3,4,6,10 years down the line. If any return is marked as fraud with a preparer, the IRS will pull ALL of the returns that preparer did looking for fraud. Since the TP signs the return under penalties of perjury, he is just as guilty and there is no statute on fraud.

]]> http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/comment-page-1/#comment-396 Delay Thu, 26 Nov 2009 15:13:15 +0000 http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/#comment-396 If a tax preparer files a false return for a client, the tax preparer is likely to end up in big trouble, right along with the client who signed the false return. There aren't "tricks" available. If your friend has children and has income under around $38,250, he is probably eligible for an earned income credit which could result in a high refund. Or if he had way too much withheld, he'd get a large refund. If a tax preparer files a false return for a client, the tax preparer is likely to end up in big trouble, right along with the client who signed the false return. There aren’t “tricks” available.
If your friend has children and has income under around $38,250, he is probably eligible for an earned income credit which could result in a high refund. Or if he had way too much withheld, he’d get a large refund.

]]> http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/comment-page-1/#comment-398 tonalc1 Thu, 26 Nov 2009 15:01:38 +0000 http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/#comment-398 Believe me they don't use tricks, they use the information that you give them. It's very easy to get $3000.00 back especially if you have a child, or a home. You can't just base it on what you know about his earnings/filing status. As for your question can it hurt you later, yes if you give wrong information to the tax service it can definately hurt you! Believe me they don’t use tricks, they use the information that you give them. It’s very easy to get $3000.00 back especially if you have a child, or a home. You can’t just base it on what you know about his earnings/filing status.
As for your question can it hurt you later, yes if you give wrong information to the tax service it can definately hurt you!

]]> http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/comment-page-1/#comment-397 Judy Thu, 26 Nov 2009 14:57:42 +0000 http://www.accountantnorwalk.com/can-tax-services-cause-you-grief-and-problems-from-the-irs-later/#comment-397 "Big box" tax services are not always up to date on current tax law (as some friends of mine found out). It's best to spend the little bit of extra money, and take it to an individual tax professional (CPA). “Big box” tax services are not always up to date on current tax law (as some friends of mine found out).
It’s best to spend the little bit of extra money, and take it to an individual tax professional (CPA).

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