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How to know who’s legally on the hook for tax return errors

Tuesday, January 30, 2018 @ 9:20 AM | By Adrienne Woodyard

For most people, preparing a tax return ranks only slightly above getting a root canal on the enjoyment scale. Many seek to avoid — or at least minimize — this suffering by engaging an accountant to prepare their tax returns. Those that do may reasonably question to what extent they are responsible for spotting errors or omissions in their returns.

Some ask, “If my advisers, with all of their professional training, miss something, am I going to take the blame?” It’s a fair point, and one...