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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15588
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I prepared a 2010 and 2011 Tax return (shouldnt say prepared,

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I prepared a 2010 and 2011 Tax return (shouldn't say prepared, just entered the amounts from his 1099's and expenses he gave me over the phone) and I was talking to him a few weeks ago (He finally hired a Tax CPA to start doing his books/returns) about his 2012 return and he said a few things that were disturbing. Basically his 2010 and 2011 expense #'s were estimated and they probably weren't right. I told him he should have his Tax CPA look at his 2010/2011 returns and file an amended return. I did not sign off on his return nor did I get paid to do his return. It took me 30 minutes to do on Turbo Tax. He had $20K in 1099's for 2010 and $37K in 1099's for 2011. It was a small return. I am a CPA but I am by far not a tax CPA..I did this as a favor for him. I am really concerned that if he gets Audited I would lose my CPA because his numbers are wrong. Am I liable here?
Submitted: 1 year ago.
Category: Tax
Expert:  Megan C replied 1 year ago.

MyVirtualCPA :

Thank you for your question, and thanks for using JustAnswer.com

MyVirtualCPA :

The taxpayer is ultimately responsible for anything that is inside a tax return.

MyVirtualCPA :

If they represented to you the expenses, to your knowledge that was correct. It's ultimately on the taxpayer to be responsible for the contents

MyVirtualCPA :

Unless you helped the customer fabricate expenses, or knowlingly filed a false tax return, you will be fine'

MyVirtualCPA :

It's not up to the tax preparer to ascertain the correctness of the return...you just take what the client gives you

MyVirtualCPA :

So I would not worry in your situation.

Customer:

That is what I figured. To cover myself a little further I sent him an email stating that what was entered and if it was wrong he should amend the return. He never responded but I did tell him what he should do.

MyVirtualCPA :

Yes, just keep that email.

MyVirtualCPA :

Is there anything else that I can assist you with today?

Customer:

I did! I guess it is his word versus mine? I have the email as proof so that should cover me

MyVirtualCPA :

You should be just fine. The tax return is their responsibility, not yours. Also, if you wanted to read more about dealing with the IRS, I would suggest books by Dan Pilla

Customer:

Okay. I appreciate it. Thank you for your time.

MyVirtualCPA :

You're welcome. If you would, please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

I will. Enjoy your day

MyVirtualCPA :

You too!

Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 15588
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Megan C and other Tax Specialists are ready to help you
Expert:  Megan C replied 1 year ago.
Thank you for your positive rating. Please come back and visit MyVirtualCPA for any of your tax, finance, and social security needs. It was a pleasure working with you today.
Expert:  Megan C replied 1 year ago.
Thank you for the positive rating. I really enjoyed working with you – please feel free to request me again when you come back to ask another question. Simply enter "MyVirtualCPA" in the subject of your question, and it will be routed directly to me. Thank you again for using JustAnswer. For the quickest service, please post a new question.

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Megan C
Megan C
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Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level