CNB TAX PREPARATION SERVICES
Study shows Chain Preparers Made Serious Errors
In GAO (United States Government
Accountability Office) visits to chain preparers, paid
preparers often prepared returns that were incorrect,
with tax consequences that were sometimes significant.
Some of the most serious problems involved these
preparers
- not reporting business income in 10 of 19 cases;
- failing to take the most advantageous postsecondary education tax benefit in 3 out of the 9 applicable cases; and
- failing to itemize deductions at all or failing to claim all available deductions in 7 out of the 9 applicable cases.
Download the whole report here.
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