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YOU are always responsible for the tax that is due on your return. However, industry standard normally is, if there was an actual error on the return, not just a possible position taken to help you that didn't hold up under IRS scruitiny, that any penalty (not interest) will be paid by the preparer. That way you only pay what you should have any the interest equals what you gained by keeping the extra money.
What else can I help you with?
Who is responsible for filing your federal tax return?
the government
Cost of a tax return by CPA?
The cost can vary widely, based on the type (personal, corporate, partnership, business, trust, etc.) the complexity of your tax return(s), the adequacy of your relevant records and documentation, and the skill level of the preparer. CPAs will discuss their prospective fees in advance of performing their service.
What is the fed tax refund?
Federal tax return is when the government asks you to pay a certain amount of money when filing your taxes. However due to an error in the calculations or exemption rules, the government can return some of this money in the form of a tax refund.
How does one amend an already sent return and change the filing status?
To correct an error on the original filed income tax return you will have to use the 1040X Amended Individual Income tax return available by using the below related link.
How many days does it take to get tax return if there was an error?
only way there can be ab error is if your employer says you made more or even worse you made less. here is an example:you work all year and make 30K and file taxes yourself and prepare an estimated return it gets sent to your employer and the employer rejects your tax return not the IRS.the best part is if you are self employed as long as you pay taxes you can file taxes moreover, if you do not pay a sales tax at the cash register you are not qualified for a tax return and it will kick back in error.in closing if you have error then i suggest you use a pre audit tool such as quicken or turbo tax so that you will know if you are guaranteed and is passes the error check.
Your tax return for 2008 is incorrect your accountant did not enter wages earned are they responsible for the amount owed?
You were responsible for making sure that all of your gross worldwide income was reported on the 1040 tax form before you signed it saying that it was correct. If you gave the accountant the information about the earned wages and they were not reported on your income tax return you should have caught the error before you signed the tax return saying that it was correct. Did your accountant also sign your income tax return saying that it was correct.
Who is responsible for filing your federal tax return?
the government
Are all income tax attorneys CPAs?
No, tax attorneys and CPAs are different professions. CPAs are accountants and can help with financial planning but not legal tax issues. In short, No they are different professions. CPAs can provide essential advice concerning financial planning, and they routinely help clients file or correct tax returns. However, they are not well versed in the law. Therefore, they cannot provide advice on complicated legal issues or help clients avail themselves of all available options, including in some cases tax bankruptcy.
Should I amend my tax return?
If you made a mistake on your tax return or forgot to report income, you should consider amending your tax return to correct the error. This can help you avoid penalties and ensure you are paying the correct amount of taxes.
Cost of a tax return by CPA?
The cost can vary widely, based on the type (personal, corporate, partnership, business, trust, etc.) the complexity of your tax return(s), the adequacy of your relevant records and documentation, and the skill level of the preparer. CPAs will discuss their prospective fees in advance of performing their service.
What type of tax preparation training do CPAs have?
CPAs are bound professionally to keep up-to-date with regard to the laws regarding taxes, finance and related matters. Not all CPAs do taxes, though most do. Today, CPAs use computer software programs to file tax returns for both individuals and businesses. While their understand the ins and out of tax law, the "training" regarding the software is provided by the software company. They do not receive special training specifically regarding tax filing because that area is a large part of their extensive education.
Does estate get passed to the IRS?
The estate does have to file a tax return with the IRS. It is responsible for income tax and estate taxes
When you make an error on your tax return can you adjust and or make it better on the following year ie. forgotten credits?
its called tax fraud sweetie, that's a no no. get a tax person.
What is the fed tax refund?
Federal tax return is when the government asks you to pay a certain amount of money when filing your taxes. However due to an error in the calculations or exemption rules, the government can return some of this money in the form of a tax refund.
How does one amend an already sent return and change the filing status?
To correct an error on the original filed income tax return you will have to use the 1040X Amended Individual Income tax return available by using the below related link.
How many days does it take to get tax return if there was an error?
only way there can be ab error is if your employer says you made more or even worse you made less. here is an example:you work all year and make 30K and file taxes yourself and prepare an estimated return it gets sent to your employer and the employer rejects your tax return not the IRS.the best part is if you are self employed as long as you pay taxes you can file taxes moreover, if you do not pay a sales tax at the cash register you are not qualified for a tax return and it will kick back in error.in closing if you have error then i suggest you use a pre audit tool such as quicken or turbo tax so that you will know if you are guaranteed and is passes the error check.
Do income tax services cost a lot of money?
It depends on how involved your return is. Big companies like H&R Block have trained tax specialists (not CPAs) who can competently do your taxes for a bit less than a CPA. The rate varies, depending on whether you file a simple return or an itemized return, and the rate varies per location around the country. Expect to pay anywhere from $75-100 for a simple return, and upwards from $225 for a return that is more involved. Any tax preparer will give you a quote, so call around to research the options.
