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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
  1.  not reporting business income in 10 of 19 cases;
  2.  failing to take the most advantageous postsecondary education tax benefit in 3 out of the 9 applicable cases; and
  3. 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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