Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I was sent a letter by the IRS saying I owe them $X, plus interest, because I made a mistake on my 1998 return (took the greater of two numbers instead of the lesser). My accountant verified the IRS is correct and that he made a mistake when he prepared the return.

Who is responsible for paying the IRS? My accountant contends that I am responsible for the tax and interest because I originally owed the money. He did say he would pay for any penalty incurred. Is this industry standard?

Thanks much.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.