Ugh... Too busy to file tax amendment so decided to pay interest and penalty. The economy is bad and the US is not doing well so decided to give more. I hope they use it well. Merry Christmas the USA!

I am glad someone has more money than time. I used to know a lot of those folks but, lately, not so many.

Best regards,

RA1

Ugh... Too busy to file tax amendment so decided to pay interest and penalty. The economy is bad and the US is not doing well so decided to give more. I hope they use it well. Merry Christmas the USA!

I tried doing my own taxes one year and it was way too complicated for me. But, rather than pay interest and penalty, I hired a tax professional to take care of it for me. (And, I'm not talking about a company like H&R Rip-Off, or Liberty Tax.)

The CPA firm I hired has now become one of my best friends. And, I really like their business slogan, "Use us when you care enough to send the very least".

Make sure that CPA firm isn't off shoring your tax returns. Most CPAs I know are not tax experts.

Who gets blamed legally if a CPA fucks up, the CPA or the person who hired them?

Who gets blamed legally if a CPA fucks up, the CPA or the person who hired them?

The Taxpayer is ALWAYS responsible. Ask Wesley Snipes when he get out of the Big House.

That's a shitty system.

Make sure that CPA firm isn't off shoring your tax returns. Most CPAs I know are not tax experts.

The CPA firm I use is an "enrolled agent". That means they are certified to represent me with the IRS.

You're right, not all CPAs are tax experts. I made sure to get the best and they've served me well for years.

I agree with Onefinger!! I have been audited twice, and the first time came out of the audit with the IRS owing me money!!(too long to explain here but due to a very good CPA! and they ended up owning me $3500.)

One tip for anyone who gets a audit! First thing to do is request a change of venue! even if they say its at an office close to your house! Tell them is a logistical and financial hardship for your accountant to go there(never go yourself!) It takes them 3 months to move a audit, in my case in my 2nd audit it went from Laguana Niguel IRS office to the So.LA. one., roughly 40 miles! and historically the IRS loses 40% of the audits they transfer!! They called me and said "we lost your file, we need a copy!" I go "gee you got my only copy!" they said "when we find it your in here for an audit!" that was 12 years ago! so far no call!

I agree with Onefinger!! I have been audited twice, and the first time came out of the audit with the IRS owing me money!!(too long to explain here but due to a very good CPA! and they ended up owning me $3500.)

One tip for anyone who gets a audit! First thing to do is request a change of venue! even if they say its at an office close to your house! Tell them is a logistical and financial hardship for your accountant to go there(never go yourself!) It takes them 3 months to move a audit, in my case in my 2nd audit it went from Laguana Niguel IRS office to the So.LA. one., roughly 40 miles! and historically the IRS loses 40% of the audits they transfer!! They called me and said "we lost your file, we need a copy!" I go "gee you got my only copy!" they said "when we find it your in here for an audit!" that was 12 years ago! so far no call!

Tomcal,

A heartwarming story. I think maybe more likely to have happened 12 years ago then now ... every things digitalized these days. But still worth a try!

Ah. Government. It never changes.

I wrote a friendly letter to an IRS agent assigned to my account and explained to him the mistakes I have made in my investment reporting. Amazing I got a letter today and it is settled with a small nominal interest charge compared to what I had to pay. Should I change my career to become a CPA? Anything I'm glad that it is settled. Thank you all for your advice.

I wrote a friendly letter to an IRS agent assigned to my account and explained to him the mistakes I have made in my investment reporting. Amazing I got a letter today and it is settled with a small nominal interest charge compared to what I had to pay. Should I change my career to become a CPA? Anything I'm glad that it is settled. Thank you all for your advice.

This is one reason I hired a tax accountant that knows investment accounting inside and out. It has been worth it, especially since my returns have been over 3" thick every year. That alone is stupid. . .

This year I'm not filing it so early. I just like doing taxes myself.

I have a tax accounting firm that is specialized for my industry, was referred by co-workers. They are miracle workers, probably paid their increased fee 10x over in what they've gotten me back.