That dreaded April day- the day to end all wage and salary
reporting, to anticipate a refund, to file an extension… Tax time
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A
young newly wedded (three years) couple has their tax return done
by “pros” as they are not among those who follow the taxing world.
We will call them Pat and Jody Taxpayer. Having just started their
own Business they left HeRBert (the group who prepared their
returns) for what to them was perceived as a tax professional. They
retained a CPA to handle some general bookkeeping and complete tax
returns.
The CPA (Certified Public Accountant) maintained records by gaining
access to Pat & Jody’s bank account using the online
statements. The first tax season for this CPA came around and she
completed the 2007 tax return. Another year passed, and she
completed the 2008 return.
Several months ago, the IRS notified the Taxpayers that the 2007
return was under investigation. Seven lines [...]
