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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Bad CPA
Posted by:
fukked
()
Date: May 21, 2008 08:27AM
Have a friend who let a CPA do his taxes. Well this guy fucked up big time -- deducted 3k in stock losses (the guy doesn't trade stocks) and other shit. Long story short, he thought he was getting back 2k but turns out may have to pay 5k (really really screwed up). What are the available options before him (he's already hired another guy to fix it) to nail this guy? Old CPA guy not returning calls.
Re: Bad CPA
Posted by:
pgens
()
Date: May 21, 2008 11:58AM
When your friend signed the tax forms and saw the Schedule D included with stock losses, what did he say at that point? Why did he sign something he read and knew to be fraudulent?
3000k in stock losses is worth around $800 in less taxes (depending on income of course), which doesn't account for the $7000 swing in the tax bill you have described. Something is really wrong and I fail to see how your friend couldn't notice how the numbers were that overinflated or underinflated.
3000k in stock losses is worth around $800 in less taxes (depending on income of course), which doesn't account for the $7000 swing in the tax bill you have described. Something is really wrong and I fail to see how your friend couldn't notice how the numbers were that overinflated or underinflated.
Re: Bad CPA
Posted by:
WashingToneLocian
()
Date: May 21, 2008 12:06PM
fukked Wrote:
-------------------------------------------------------
> Have a friend who let a CPA do his taxes. Well
> this guy fucked up big time -- deducted 3k in
> stock losses (the guy doesn't trade stocks) and
> other shit. Long story short, he thought he was
> getting back 2k but turns out may have to pay 5k
> (really really screwed up). What are the
> available options before him (he's already hired
> another guy to fix it) to nail this guy? Old CPA
> guy not returning calls.
The guy is a Certified Public Account. Contact the agency that certifies him and file a complaint. With any luck, the guy will have to defend his certification or lose it.
-------------------------------------------------------
> Have a friend who let a CPA do his taxes. Well
> this guy fucked up big time -- deducted 3k in
> stock losses (the guy doesn't trade stocks) and
> other shit. Long story short, he thought he was
> getting back 2k but turns out may have to pay 5k
> (really really screwed up). What are the
> available options before him (he's already hired
> another guy to fix it) to nail this guy? Old CPA
> guy not returning calls.
The guy is a Certified Public Account. Contact the agency that certifies him and file a complaint. With any luck, the guy will have to defend his certification or lose it.
Re: Bad CPA
Posted by:
fukked
()
Date: May 21, 2008 09:55PM
pgens Wrote:
-------------------------------------------------------
> When your friend signed the tax forms and saw the
> Schedule D included with stock losses, what did he
> say at that point? Why did he sign something he
> read and knew to be fraudulent?
>
> 3000k in stock losses is worth around $800 in less
> taxes (depending on income of course), which
> doesn't account for the $7000 swing in the tax
> bill you have described. Something is really
> wrong and I fail to see how your friend couldn't
> notice how the numbers were that overinflated or
> underinflated.
I think taxes freak a lot of people out which is why many hire other people do it. I mean if the guy is a CPA, one would just assume they knew what they were doing and getting money back is always a treat. I'm not defending him over it, just that I understand not everyone can be a pro at everything. I told him to go and just Turbo Tax it himself given how simple his situation is. IRS just freaks people out. This CPA guy needs a good beat down over this shit.
-------------------------------------------------------
> When your friend signed the tax forms and saw the
> Schedule D included with stock losses, what did he
> say at that point? Why did he sign something he
> read and knew to be fraudulent?
>
> 3000k in stock losses is worth around $800 in less
> taxes (depending on income of course), which
> doesn't account for the $7000 swing in the tax
> bill you have described. Something is really
> wrong and I fail to see how your friend couldn't
> notice how the numbers were that overinflated or
> underinflated.
I think taxes freak a lot of people out which is why many hire other people do it. I mean if the guy is a CPA, one would just assume they knew what they were doing and getting money back is always a treat. I'm not defending him over it, just that I understand not everyone can be a pro at everything. I told him to go and just Turbo Tax it himself given how simple his situation is. IRS just freaks people out. This CPA guy needs a good beat down over this shit.
Re: Bad CPA
Posted by:
Native.
()
Date: May 21, 2008 10:07PM
fukked Wrote:
-------------------------------------------------------
> Have a friend who let a CPA do his taxes. Well
> this guy fucked up big time -- deducted 3k in
> stock losses (the guy doesn't trade stocks) and
> other shit. Long story short, he thought he was
> getting back 2k but turns out may have to pay 5k
> (really really screwed up). What are the
> available options before him (he's already hired
> another guy to fix it) to nail this guy? Old CPA
> guy not returning calls.
Sounds like a pathetic alibi to me.
-------------------------------------------------------
> Have a friend who let a CPA do his taxes. Well
> this guy fucked up big time -- deducted 3k in
> stock losses (the guy doesn't trade stocks) and
> other shit. Long story short, he thought he was
> getting back 2k but turns out may have to pay 5k
> (really really screwed up). What are the
> available options before him (he's already hired
> another guy to fix it) to nail this guy? Old CPA
> guy not returning calls.
Sounds like a pathetic alibi to me.