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Financial Planning / Tax Strategies


Subject:  Re: Enrolled Agent or CPA? Date:  12/17/2001  3:31 PM
Author:  noratr Number:  56077 of 127613

>> What does H&R Block do if you should have paid LESS than they calculated? <<

That, I don't know. What do others, EAs and CPAs, do?

If IRS discovers that the taxpayer should have gotten back a bigger refund, they refigure it with the good amount and send them the extra money. I know someone who did their own tax return and did not know about Capital Gains tax so he figured out his refund as being less than it should have been - IRS figured it correctly and sent him the correct amount. In the case when the extra $$ is sent past the due date, IRS should send the refund plus interest. But all this is regardless of who prepared it.
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