Comments on: Beware the CPA Imposter http://www.pappasontaxes.com/index.php/2009/11/05/beware-the-cpa-imposter/ Pappas on Taxation Thu, 09 Feb 2012 04:09:25 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: CPAs vs. Unenrolled, Unlicensed, Unaccountible Tax Preparers http://www.pappasontaxes.com/index.php/2009/11/05/beware-the-cpa-imposter/comment-page-1/#comment-8758 CPAs vs. Unenrolled, Unlicensed, Unaccountible Tax Preparers Wed, 19 Jan 2011 15:08:34 +0000 http://blog.pappastax.com/?p=11152#comment-8758 [...] Beware the CPA Imposter [...] [...] Beware the CPA Imposter [...]

]]> By: WebCPA Tax Advice: Avoid IRS Audit by Hiring Licensed Tax Preparer http://www.pappasontaxes.com/index.php/2009/11/05/beware-the-cpa-imposter/comment-page-1/#comment-3301 WebCPA Tax Advice: Avoid IRS Audit by Hiring Licensed Tax Preparer Thu, 12 Nov 2009 04:10:26 +0000 http://blog.pappastax.com/?p=11152#comment-3301 [...] Beware the CPA Imposter [...] [...] Beware the CPA Imposter [...]

]]> By: Peter http://www.pappasontaxes.com/index.php/2009/11/05/beware-the-cpa-imposter/comment-page-1/#comment-3288 Peter Tue, 10 Nov 2009 12:57:37 +0000 http://blog.pappastax.com/?p=11152#comment-3288 Hi Tony, There is probably no return more difficult to prepare than a complex 1040, but partnership returns and corporate returns can also be quite complex. Also, in order to prepare a good business return -whether it be a Schedule "C", an LLC, an S corporation, a C corporation or a partnership return - a sound grounding in accounting is absolutely essential. This is why CPAs are natural tax preparers even though not all CPAs choose to be tax preparers. Hi Tony,

There is probably no return more difficult to prepare than a complex 1040, but partnership returns and corporate returns can also be quite complex.

Also, in order to prepare a good business return -whether it be a Schedule “C”, an LLC, an S corporation, a C corporation or a partnership return – a sound grounding in accounting is absolutely essential.

This is why CPAs are natural tax preparers even though not all CPAs choose to be tax preparers.

]]> By: Tony http://www.pappasontaxes.com/index.php/2009/11/05/beware-the-cpa-imposter/comment-page-1/#comment-3280 Tony Mon, 09 Nov 2009 21:10:15 +0000 http://blog.pappastax.com/?p=11152#comment-3280 The problem with regulation of tax preparers is that there appears to be no definition of what is tax preparation. Many entities have a CPA firm to complete their annual tax return and provide tax planning but rely on employees or independant servicers for other forms. These include Forms 941, 940, W-2, 1099-Misc, 8300, etc. While errors in any of these forms can be quite costly they do not represent the kind of abuse the IRS is trying to limit. IRS regulation of preparers should be limited to individual tax returns, Forms 1040 and its variants or perhaps corporate and partnership returns as well. Otherwise businesses will be forced to pay outrageous prices for simple reporting processes. The problem with regulation of tax preparers is that there appears to be no definition of what is tax preparation. Many entities have a CPA firm to complete their annual tax return and provide tax planning but rely on employees or independant servicers for other forms. These include Forms 941, 940, W-2, 1099-Misc, 8300, etc. While errors in any of these forms can be quite costly they do not represent the kind of abuse the IRS is trying to limit. IRS regulation of preparers should be limited to individual tax returns, Forms 1040 and its variants or perhaps corporate and partnership returns as well. Otherwise businesses will be forced to pay outrageous prices for simple reporting processes.

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