Every year, millions of individuals and small business owners have their tax returns prepared by outside accountants. It makes sense. Taxes can be complicated so it’s a good idea to have someone who knows this stuff well – a professional – to do your year-end reporting, and do it right.
But let’s say there’s a problem with your tax return. Maybe your tax professional made a mistake. Or was negligent. Or wasn’t up to date on the rules. And let’s say this problem resulted in you owing more money to the IRS. Or even – if serious enough – it results in the IRS taking you to court. Who’s ultimately responsible for this problem? Is it your accountant?
Nope. It’s you.
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Another example: you run a business, and every year your bank requires that you receive an audit from an approved…
