Tax preparers got the results of an audit from the Government Accountability Office on Tuesday. Let's just say things didn't go well.
The GAO's report cited a small undercover study of 19 paid preparers in February, chosen randomly in states that do not regulate tax preparers. The findings:
⢠Seventeen of 19 preparers made mistakes.
⢠Errors ranged from giving the taxpayer refunds $52 less than due to a refund of $3,718 more than due.
⢠Most frequent error: not reporting tips (12 of 19 returns).
Unfortunately, the report didn't come as a surprise. The GAO surveyed taxpayer errors from 2006 through 2009 and found that tax returns prepared by preparers had a higher estimated percent of errorsâ60 percentâthan self-prepared returnsâ50 percent....
Is it just me or is our tax code a little too complicated?
The GAO's report cited a small undercover study of 19 paid preparers in February, chosen randomly in states that do not regulate tax preparers. The findings:
⢠Seventeen of 19 preparers made mistakes.
⢠Errors ranged from giving the taxpayer refunds $52 less than due to a refund of $3,718 more than due.
⢠Most frequent error: not reporting tips (12 of 19 returns).
Unfortunately, the report didn't come as a surprise. The GAO surveyed taxpayer errors from 2006 through 2009 and found that tax returns prepared by preparers had a higher estimated percent of errorsâ60 percentâthan self-prepared returnsâ50 percent....
Is it just me or is our tax code a little too complicated?