2007-01-08 13:17:40 · 4 answers · asked by jlm 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
No, because the error would be caught when balancing the books. And if the error is across the entire set of books, then it's intentional fraud.
2007-01-08 13:21:57 · answer #1 · answered by Joe S 6 · 1⤊ 0⤋
It depends what you mean by unintentional. If someone gave you false documentation, then I don't think you would be liable for it.
If it was out of negligence, then it's possible. For example, if you a revenue accrual without asking the proper questions.
Now if you made a typo, the first question asked would be why didn't you catch it. Normally you should see it when you do an analysis. So if it goes for too long and you don't catch, it might be pretty bad. So if you are aware of any subsantial errors, I would let any who uses the financial statements know ASAP, and consider letting people know what controls will be put in place to avoid similar errors in the future.
2007-01-08 21:28:30 · answer #2 · answered by Curious 2 · 0⤊ 0⤋
No - if there was an error, you fix it, pay the taxes and move on. What is the purpose of suing a tax preparer for a mistake? Geeze!!
Besides, it is YOUR responsibility to check the returns before filing.
2007-01-09 18:20:56 · answer #3 · answered by Dizney 5 · 0⤊ 0⤋
It's unlikely they will be prosecuted and even more unlikely they would be convicted of a crime.
2007-01-08 22:01:50 · answer #4 · answered by Ovrtaxed 4 · 0⤊ 1⤋