Boyfriend’s dad is a CPA and has been doing the letter writer’s taxes for free – and wrong – for years.
My boyfriend’s dad is a CPA, with decades of experience. A few years ago he offered to do my taxes, due to the sudden complexity because of an inheritance — and I was using cheap software for very basic returns.
This year, I decided to start filing my taxes again on my own. As a result, I found out he had given me incorrect advice for all of these years regarding paying my estimated taxes. He told me it was a suggestion to pay the estimated taxes, but it’s actually required! Again, the software would have told him this and would have also given him the penalty amount I owed. Not once did he mention the penalty I owed and it’s not on any of the returns he gave me, after filing.
These tax returns are filed under your name, with information you supply, and you should review the returns and do your due diligence regarding taxes and penalties before signing and submitting your return. The IRS requirements on estimated taxes are clear and readily available through a simple internet search. Penalties should show up on a line on your return, but when reviewing your return, you might have looked only at the “bottom line.
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