Viewing a single comment thread. View all comments

DeskFan203 t1_j9the4r wrote

Reply to comment by tookerken in New to taxes. Confused and lost about what to do, so I need guidance. by Bigshit67

Yeah no they do not absorb the liability. I use an accountant and when I sign off on my 1040s for them to be filed, I also sign off that I do not hold them accountable (ha) for any errors and have reviewed the documents.

My late grandmother was responsible for the firm doing this. The IRS billed her for something the accountant screwed up on, she went after the accountant and made him pay for the issue lol. That was an expensive learning lesson for the firm and after that, they adopted this policy. She was a force to be reckoned with...😅

2

tookerken t1_j9twla1 wrote

By liability I mean if any mistakes are made they absorb that liability of mistakes.

They will 100% be responsible if they screw up your tax returns, and that costs you money.

Add proven by the fact she was able to sue. You don't have to sign your rights away. And I would suggest that if any one of them does ask you to sign away their mistakes as a rate you go find another accounting.

My accountant here and the one that I've had previously they've always guaranteed their work.

2