Discussion:Tax Preparer Liability
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Ryanaukerman (talk|edits) said: | 27 February 2006 |
| If a client or clients offer fraudelant information and the client or clients get audited. Does the liability always fall on the client because they are offering us the information. Can we as prepaers still be held liable if a client tries to blaim the preparer for their unscrupulous ways. All I carry now is a $5000 surety bond wich is the minimum required for california to prepare taxes. Am I not covered enough, should I also carry errors and ommissions insurance? Please give your thoughts and or experiences.
Thank you, RJ TAX and NOTARY | |
| 27 February 2006 | |
| I am going to get Errors and Omission insurance just in case. You never know. If anyone knows where I can get good coverage at a reasonable price, please write the website, please. | |
| 27 February 2006 | |
| This is why you have the client sign an engagement letter stating that their return is being prepared from information provided by them. | |
Ryanaukerman (talk|edits) said: | 28 February 2006 |
Raysmock,
Very good info. Do you have a sample one that you can email me? This is my first year on my own and could use all the help I could get. rjtaxandnotary@yahoo.com | |
| 28 February 2006 | |
| Great Idea Could I get A sample of that to? This is our 2 nd year
Thanks ikeandcookie@verizon.net | |
| 1 March 2006 | |
| I have my E & O insurance with EZ insurance solutions. CNA underwrites the policies. They are very reasonable. They use "step rating" So the first year you have the insurance is the most reasonable and each year they step up the premium a little because the longer you are in business the more liability you are expsed to. Other quotes that I got were $2000.00 and up.
EZ got it for me for around $500.00 my first year. I have not had any problems with them. www.ezinssolutions.com or 800-225-8464. | |
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