Accountants in Orlando are usually under a lot of pressure during the tax filing season due to the amount of tax preparation Orlando workload and deadlines. During this intense time, it is possible that to make errors while compiling tax returns Orlando. Some of the common mistakes that accountants in accounting firms in Orlando make include misinterpretation of law, wrongful interpretation of clients’ requests and human errors such as accidentally entering a wrong number. To avoid such neglectful behavior and provide your client with an error free tax return Orlando, you can adopt some of the following measures.
According to US Supreme Court Law, if an error of omission has been discovered in any of the tax papers submitted by the taxpayer during the tax preparation Orlando, he is not required to correct the tax return Orlando. Upon discovering such errors, a taxpayer is required to file an amended return. However, the tax payer is not under any legal obligation to do so.
If an error is made in the capacity of an accountant Orlando, it is his professional liability to inform the client of the error and ask him to proceed thereon. It is up to client’s discretion to file an amended tax return Orlando.
When the client elects to file the tax return, an accountant Orlando can continue to represent his legal matters. However, if the client refuses to file an amended income tax return, the accountant Orlando must decide whether he will like to continue representing the client since it indicates future behavior and tendency towards fraudulent activities. Also, preparing future income tax returns will include the carrying forward of past errors that can lead to calculation of return on an incorrect basis. If you have decided to continue your relationship with said client, you will have to ensure that you adopt certain measures that will ensure minimal exposure to any criminal proceeding.
If you have come across a mistake in your tax preparation Orlando, persuade your client to file for an amended tax return Orlando. Educate your client about the benefits of filing an amended income tax return and persuade him to the best of your capacity to correct the said mistake.
Upon discovering any irregularities in your tax preparation Orlando, you will have to do your best to lessen the impact of your involvement in errors. Firstly, encourage your client to file for an amended tax return as it remains your ethical obligation to advise your client regarding the best way to proceed forward.
An important factor that can help you limit your professional liability is the intent of the client. If you have, at your best professional capacity, informed the taxpayer of the criminal charges that he is likely to face, you will be able to resolve the matter by claiming your responsibility in the filing of the mistaken income tax return Orlando.
It is quiet common for an accountant Orlando to err when it comes to filing tax returns Orlando. You can avoid some of the common mistakes of tax preparation Orlando, by using additional help or better time management skills that will enable you to complete your project before the deadline, leaving ample time for you to review the tax returns Orlando.
If you need more information about our accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.