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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1841
Experience:  Certified Public Accountant
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My CPA informed me that my 2014 tax return was filed with

Customer Question

my CPA informed me that my 2014 tax return was filed with omissions from a partnership k-1 form that is always filed in previous years, the extra tax owed by me was 55k, with I paid and am waiting on the IRS charge on penalty and interest, I told my CPA that I expect him to pay for the mistake, will be approx. 6k, and he refuses. Saying he gets and scans all papers that come in but that is not true all the file was submitted and he missed it. He also says he always does a comparison from previous years return and still missed it. So for a 2014 return he just by chance decides to pull it up and review the return??? Does not hold water. Please advise.
Submitted: 10 months ago.
Category: Tax
Expert:  Mark Taylor replied 10 months ago.

Hi, my name is Mark. I will be happy to help you with your questions.

Expert:  Mark Taylor replied 10 months ago.

You are absolutely correct. The CPA should have caught that the K-1 was not included on your return.

Expert:  Mark Taylor replied 10 months ago.

Of course you should be responsible for the unpaid tax, but the CPA should be responsible for any penalties and interest associated with an error.

Customer: replied 10 months ago.
thank you, ***** ***** on finding an attorney?
Expert:  Mark Taylor replied 10 months ago.

If this was a new K-1 then I could understand the CPA taking that position, but where the k-1 was received in prior years this is clearly the CPA's error.

Expert:  Mark Taylor replied 10 months ago.

What state is the CPA in?

Customer: replied 10 months ago.
texas
Customer: replied 10 months ago.
the K- 1 forms were in the return that he prepared for both parnerships but no entries all left blank
Expert:  Mark Taylor replied 10 months ago.

The basic information of the K-1's would be carried over by the software. This should have brought up a red flag when there were no amounts that were entered.

Expert:  Mark Taylor replied 10 months ago.

I was looking at the Texas State Board of Public Accountancy site regarding filing a complaint for misconduct.

Expert:  Mark Taylor replied 10 months ago.

http://www.tsbpa.state.tx.us/enforcement/filing-complaint.html

Expert:  Mark Taylor replied 10 months ago.

If you do enough returns you are going to make a mistake. There is no way around it. But the CPA needs to be accountable for the error.

Expert:  Mark Taylor replied 10 months ago.

Filing a complaint may say you the cost of an attorney.

Customer: replied 10 months ago.
my thoughts exactly, plus they are insured to cover mistakes as well
Customer: replied 10 months ago.
thanks for your help
Expert:  Mark Taylor replied 10 months ago.

I am not sure how long the complaint process works but it would at least create an uncomfortable situation for the CPA. A business attorney would be the next suggestion.

Expert:  Mark Taylor replied 10 months ago.

I hope you found this information to be beneficial. If this answered your question please take a few moments to rate my response. A rating is needed in order for me to receive credit for helping you today. The rating bar is located at the top of the page – ranging from 1 to 5 stars. If you need me to clarify aspect of my response or if there are additional areas of the question that you would like me to consider please let me know. I would be happy to continue the discussion. It has been my pleasure helping you today.

Expert:  Mark Taylor replied 10 months ago.

Please let me know if you have any other questions or need clarification. I am happy to help.