Is it common...?

[HotHolly]

...for your CPA to miss something and have the IRS point out that they owe you money?

Wondering, on a scale of little mess up to huge screw up, where does that fall?

[Imagebuffet]

Are you sure the CPA missed something, or did the government change a rule or law so now you have money coming back that you wouldn't have gotten, otherwise?

[HotHolly]

no, nothing changed. nothing new.

[kenw]

They're human, too......many will cover your extra tax. But they are prohibited by law (iirc) from covering your penalty or interest. If it was an honest mistake the IRS often waives and penalty or interest.

don't ask how i know.....


btw, I know a real good one up in Stamford.

[Howard Barlow]

I doubt it is common, though not unheard of. I guess it all depends on what they missed. Some little something may not be too significant, but a major blunder a blind man would have seen, well, that's a horse of a different color.

BTW, did he miss a multi-colored horse, or what?

[Jeff_Green]

Originally Posted by HotHolly

...for your CPA to miss something and have the IRS point out that they owe you money?

Wondering, on a scale of little mess up to huge screw up, where does that fall?

I would say this would be a MINOR screw up. I took mine to H&R Block once (I repeat, only once). I sat with them and did all my part and waited for them to do their part but after a couple of weeks I stopped back by wondering why I haven't heard anything... well, they then informed me that they never even filed it.

[Buddha]

CPA's are normally good about doing taxes. If they make a mistake, it's probably the taxpayer who left something out so the CPA was in the dark about something. The tax preparers are wrong on a regular basis, charge high interest for rapid refunds, and hold on to the refund when it arrives and don't let their clients know.
If you really have a question, get on the phone to the IRS and ask someone to explain the mistake to you in plain English. There are real people there who will do that if you just ask. Just don't get ugly or they will hang up on you.

[KdLaneJr]

IRS sent me a letter this year saying the recalculated a line item which raised my tax refund. Haven't talked to my CPA yet, but I don't believe she made a mistake.
First time it's happened for me.

[Westx]

I had it happen once when I bought my first house. Got back a couple hundered more than I thought I would have. Was a math error.

[Rson]

Run Run away.

I actually got a letter that said they owe me .27. You bet it was on the next years return. :)

[Torrey]

Originally Posted by Rson

Call the CPA and appeal with the IRS. Usually you will win on because the monkeys at the IRS don't read every line of the Tax Code Bible. A good CPA can work the numbers and fight for you.

I don't think I would fight with the IRS if they owed me money.