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Significant errors in the tax return of the acquired business


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4 hours ago, RitaB said:

Rich (can I call you Rich?) is one of the most knowledgeable posters on this board, and I'm sure he thought of all the headaches that may come up with these [soon to be] taxpayers before he posted.  I also think he's had the "how the hell could you live off $14,000 and the windfall refundable credits" talk with them, since they admitted they spend $120,000 -$144,000 a year on personal expenses.  And since there is no mention of living off savings, credit, gifts, or personal savings, I'm thinking these folks made, well, six figures. 

Unless the tax pro retired, died, became incarcerated, or the [soon to be] taxpayers moved, they either fired the tax pro or the tax pro fired THEM.  That's what I'm coming up with.

I suspect the [soon to be] taxpayers are at LEAST as much to blame for the inaccurate returns as the tax pro.  I also think they knew their last tax return was horrifically incorrect before they came to Rich, and they're ready to get off the public dole and pay their taxes.  They spend $120,000 a year and can cough up my tax prep fee or Rich's tax prep fee for an accurate return without whining, too. 

This is a success story!  One fraudulent EITC that won't happen in 2017.  That's one down.  Good for you, Rich, and good for the rest of us people paying taxes.

 

When I logged in, and the site gave me the notification that I had been quoted by Rita, I was glad to know she wasn't hugging me...

Rita:  That was very sweet of you to say the above.  Some days, its nice to know that it appears to others that I have a clue.

And these folks?  The *knew* what they were getting.  They needed to make a change because there are some other major changes coming in their world, and they needed better representation.  They were actually embarrassed to give me the return...  I give them credit for that.

Ya'all have a happy holiday season, OK?

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16 minutes ago, Richcpaman said:

When I logged in, and the site gave me the notification that I had been quoted by Rita, I was glad to know she wasn't hugging me...

Rita:  That was very sweet of you to say the above.  Some days, its nice to know that it appears to others that I have a clue...

Ya'all have a happy holiday season, OK?

The hugging notification is down right now, but mine generally are nice surprises just for clients.  Merry Christmas my very clued in friend.  :)

 

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