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Do we owe interest and penalties for our preparer's mistake?

September 10, 2003


Subject:  Need Advice

From:  John
Date:  Fri, 22 Aug 2003

My wife and I were recently notified about our 2001 tax return. It seems that our tax preparer added our w2's and 1099's wrong. He stated that we paid $14,000 in taxes, when we in fact paid only $11,000 in taxes that year. The IRS wants a total of $6,000 interest, penalties and the correct tax. Any suggestions on how to handle this matter will be greatly appreciated.

John

Answer

Date:  Fri, 29 Aug 2003

Hello John,

You apparently do owe the money for the tax. I suggest you see the tax return preparer about recovering at least the penalties and possibly the interest that is due because of the error.

Good luck!
Mike Gray

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Do we owe interest and penalties for our preparer's mistake?

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Michael Gray, CPA
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