Tax Returns Archives

Key Steps for Tax Risk Management

January 26, 2023January 25, 2023 by Amber

A Sticky note with the words "Tax Time" on it

CPA liability exposures during tax season are always a concern. However, liability exposures during this tax season are even more exacerbated given the added complexities with increased economic and tax-specific relief measures. As a reminder, here are some actions that practitioners can take to successfully manage risk exposures. Defensive documentation is essential to successfully manage … Read more

Claim Chronicles 122

January 11, 2023January 6, 2023 by Amber

Topic: Voluntary PaymentsServices: Tax Return Prep, Submission Claim 1: Peter Thompson of A6 Accounting Services received a letter from the state of Michigan advising him that an audit had been performed on his client’s 2021 tax return, and that penalties of $2,888 and interest of $11,679 were assessed. Thompson’s client owns a boat rental company … Read more

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