No sane person would seek one medical profession to perform work on another because it is common sense. But this common sense/knowledge doesn't exist when it comes to CPA and filing taxes. Focus of a CPA is applying accounting concepts and having a general knowledge of federal tax regulations; not filing out tax forms. People generally just assume someone who is a CPA must know how to file taxes. This assumption is simply not true.Ani wrote: ↑Wed Jun 10, 2020 3:45 pmThis is a meaningless analogy.
I dont think going to the CPA for personal taxes sounds as extreme as going to the cardiologist for getting dental work.
No sane person goes to a cardiologist to get their teeth fixed and if someone did go to a cardiologist to get their teeth fixed- I would hope the cardio would tell them- i dont fix teeth - go see a dentist.
Similarly- if CPAs dont file personal tax returns - they should say so and direct people to the right place, instead of taking 1 grand and doing shoddy work- which is exactly what happened.
That being said- reading stuff on bogleheads and turbotax forums after being serially screwed by CPAs has helped me immensely and I plan on filing taxes myself using turbotax in future.
This incorrect assumption is why you'll find BH threads every now and then with a recurring theme involving topic owner asking the BH community if a CPA did their taxes correctly.
CPA do file tax returns; they just may not necessarily be doing it 100% accurately per IRS requirement. They are not intentionally filing it incorrectly. They just don't know what they don't know because only a general knowledge of federal taxation is needed for the CPA exam.