Blog | Page 13 | CAMICO®

13 Apr

What to do if my client gets divorced

Divorce can be a highly charged situation for CPAs, especially when one accountant represents both parties in a divorce. CAMICO has more than 30 years’ experience handling such situations. These are some of our best practices for CPAs with divorcing clients.

Representing both sides in a divorce is a potential conflict of interest

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15 Mar

Prevent Improperly Documented Client Extensions

If you need information at the last minute to complete a return, have the client send the data via e-mail or fax. The e-mail or fax becomes part of your records and support. Document, document, document!

Another effective way to prevent the problem of improperly documented client extensions is a written confirmation of the amounts used to calculate the extension payment. The confirmation is sent to the client with the extension form and gives the client an opportunity to review the information and to change any information that appears incorrect, prior to April 18, 2017.

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24 Feb

31 Reasons CPAs are Sued

CPAs who are sued are often in the wrong place at the wrong time with the wrong decision. These situations that landed CPAs in court are real—drawn from CAMICO's claims files.

1) Trusting a client too much

A long-time client asked her CPA to perform an audit for a new insurance company she's invested in. The CPA uncovered unverifiable assets but never verified them.

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Latest Articles

15 Mar

Tax Tip – Documenting Advice and Decisions

All significant client meetings should be documented with a written description of the subjects discussed at the meeting. This will help ensure that both you and the client are proceeding with the same expectations and assumptions.
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13 Feb

Tax Tip – IRS Warning and Tips to Prevent Phishing Scams

The IRS issued a warning this month in response to a scam that began with data stolen from tax professionals’ computers. The IRS also recommends steps that practitioners should consider to secure their data. Also included are CAMICO risk management tips.

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18 Jan

Michael Ryder Joins CAMICO as Vice President of Sales, Marketing and Communications

CAMICO, the nation’s largest CPA-directed program of insurance and risk management for the accounting profession, has appointed Michael Ryder as Vice President ... read more
15 Jan

Avoiding Conflicts of Interest

Preparing tax returns for a married couple getting a divorce, or for business owners or partners in dispute, are highly charged situations that can present potential conflicts of interest. What’s the best way to navigate such situations?

Friendly divorcing couples might ... read more

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What to do if my client gets divorced

Representing both sides in a divorce is a potential conflict of interest

Prevent Improperly Documented Client Extensions

31 Reasons CPAs are Sued

1) Trusting a client too much

Pages

Latest Articles

Tax Tip – Documenting Advice and Decisions

Tax Tip – IRS Warning and Tips to Prevent Phishing Scams

Michael Ryder Joins CAMICO as Vice President of Sales, Marketing and Communications

Avoiding Conflicts of Interest

Preparing tax returns for a married couple getting a divorce, or for business owners or partners in dispute, are highly charged situations that can present potential conflicts of interest. What’s the best way to navigate such situations?

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