2007-10-16 06:26:39 · 7 answers · asked by Taxpayer 1 in Business & Finance ➔ Taxes ➔ United States
The 3rd party would have to be a paid preparer and who has signed the return as a paid preparer.
In addition, the 3rd party would have had a separate agreement with you that if there was an error on the return due to the preparer, that the preparer would be responsible for additional taxes up to a certain amount.
The large tax preparation places offer this coverage for an additional fee. Most commercial preparers will also pay penalties and interest if additional taxes are assessed due to preparer error.
Otherwise, the preparer has no responsibility to pay the tax due.
2007-10-16 09:23:27 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
Professional tax preparers sometimes advertise that they are financially responsible for any penalties and interest you may be charged by the IRS, but the actual tax deficiency is your responsibility. Had the preparer done the return properly in the first place, you would have had no deficiency. You would have simply paid the deficiency along with the original tax return.
2007-10-16 10:09:47 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
You are responsible for everything. Think reasonably here, you owe the correct amount of tax, whatever that is. Why should someone else pay it? In some criminal cases, preparers of a large number of fraudulent returns have been ordered to pay restitution.
2007-10-16 07:05:25 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Depends on the company, thats why you ALWAYS need to read the fine print. And if you have a relative or a friend do it, well your out of luck. They can only be help responsible if you have the paperwork saying so. Good luck!
2007-10-16 06:36:21 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Depending on the company policy, they might take responsibility for penalties but you, and only you, are responsible for the deficiency.
2007-10-16 06:30:22 · answer #5 · answered by bdancer222 7 · 5⤊ 0⤋
Generally.....No. You are responsible for what goes on your return.
Most tax places have a policy of paying penalties and interest if it was their mistake. You are still responsible for the tax.
2007-10-16 06:59:18 · answer #6 · answered by Wayne Z 7 · 1⤊ 0⤋
Ultimately you are responsible because it is your taxreturn, you must have read it and signed it. If it is a true filing mistake, you can always turn around a sue the prepared or ask for indemnification.
2007-10-16 06:48:14 · answer #7 · answered by crapaudblanc 4 · 0⤊ 0⤋