Should I fire my tax preparer?

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JBTX
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Re: Should I fire my tax preparer?

Post by JBTX »

retiredjg wrote: Wed Jul 15, 2020 8:45 am
HawkeyePierce wrote: Tue Jul 14, 2020 9:02 am My preparer sent me my return in February and naturally I didn't get around to reviewing it until this weekend. :oops:
I probably have a different take on this than most. :?

She did her part and sent it to you in Feb. You had 4+ months to get things fixed. If there were things to change, Monday July 13 is not the time to bring them up - probably one of her busiest days of the year.

Assuming you or a family member has not been ill much of this time, the communication problem is yours, not hers. You should just own it and move on.

Since it appears she did file the taxes you probably had given your authorization even if you didn't know it. If not, a formal complaint about that seems appropriate.

Not money well spent, but you can't exactly blame her for not fixing things in time. She never had the opportunity to make things right.


Can someone confirm my understanding of the correct course of action here?

1) By the end of today, make the payment required of the bad return filed by my preparer, even though I believe it's more than I actually owe. This would avoid penalties.

2) Mail in a 1040-X to amend my return. This doesn't have to be done by today. If I overpay today, the IRS would eventually send me a refund once they process my 1040-X.

Do I have that right?
I think you have it right.
I agree with this. I wouldn't use her again but it isn't at all reasonable to sit on it 4 months, demand corrections a couple of days before due and then refuse payment.
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JonnyDVM
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Re: Should I fire my tax preparer?

Post by JonnyDVM »

FWIW I’ve found the backdoor roth form 8606 to be a good litmus test for a tax preparer. If you bring it up and they don’t know what you are talking about you need to keep looking.
I’d trade it all for a little more | -C Montgomery Burns
Katietsu
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Re: Should I fire my tax preparer?

Post by Katietsu »

The ability to efile the 1040-X is supposed to be coming “this summer”. Maybe someone on the forum has more updated info?

Anyway, I would wait a bit and utilize that method should it become available. I would not want to mail a paper return if I was anticipating a refund.
Rudedog
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Re: Should I fire my tax preparer?

Post by Rudedog »

If you don't fire her, she may fire you.
Bobby206
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Re: Should I fire my tax preparer?

Post by Bobby206 »

Where did you fine this quack?

Was she a discount special?

I pay my CPA a ton every year BUT they tell me about tax concepts that I have little clue what they are talking about. They earn their keep for ME. My person is a 30 year CPA, masters in taxation, and well versed in a variety of tax issues. I hate spending the money but I feel I get my money's worth.

I guess my point is look for someone different next year!
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HawkeyePierce
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Re: Should I fire my tax preparer?

Post by HawkeyePierce »

I paid the full amount owed on the original return and will work on a 1040-X over the next few days. I make estimated payments each year anyways so I'll just direct the overpaid amount towards my 2020 taxes in lieu of a Q3 or Q4 payment.
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Stinky
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Re: Should I fire my tax preparer?

Post by Stinky »

HawkeyePierce wrote: Wed Jul 15, 2020 11:01 pm I paid the full amount owed on the original return and will work on a 1040-X over the next few days. I make estimated payments each year anyways so I'll just direct the overpaid amount towards my 2020 taxes in lieu of a Q3 or Q4 payment.
I think that’s a good answer.

Let us know how your conversations with the tax preparer turn out.
It's a GREAT day to be alive - Travis Tritt
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BolderBoy
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Re: Should I fire my tax preparer?

Post by BolderBoy »

HawkeyePierce wrote: Wed Jul 15, 2020 10:18 am
BolderBoy wrote: Wed Jul 15, 2020 10:13 am
HawkeyePierce wrote: Wed Jul 15, 2020 9:02 am
BolderBoy wrote: Wed Jul 15, 2020 9:01 am
HawkeyePierce wrote: Tue Jul 14, 2020 9:02 am[*]I made a nondeductible traditional IRA contribution in 2019 and later in the year converted it to a Roth, with gains of about $100.
I'm curious as to why you waited to make the conversion?

... and it sounds like you should do your own taxes.
Backdoor Roth. I'm phased out of directly making Roth IRA contributions.
My question was poorly constructed.

You made the non-deductible, tIRA contribution. Why did you thereafter wait until "later in the year" to make the Roth conversion? Did you have a strategy in mind?
I was letting it "season" based on prior guidance for the backdoor Roth.
I'm unfamiliar with any rationale for not doing the conversion immediately (like the next day). What could "seasoning" potentially gain?
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
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