The Hidden Pitfalls of Tax Return Preparers: Navigating Mistakes and Fraud
Manage episode 430089140 series 3071154
July 12, 2024 - Participants include:
Virginia La Torre Jeker - @VLJeker
John Richardson - @ExpatriationLaw
AI Description:
"Join John Richardson from Toronto, Canada, as he engages in an insightful discussion with Virginia LaTorre-Jeker, a renowned lawyer, author, and blogger. Recorded on Friday, July 12, 2024, this episode delves into the complexities faced by taxpayers, particularly those living abroad, when dealing with tax return preparers.
In this episode, Virginia highlights key points from her recent Forbes article, "Tax Return Preparers' Mistakes or Fraud? Innocent Taxpayer Takes the Hit." The conversation covers the vulnerabilities of taxpayers to fraudulent or incompetent tax preparers, especially for Americans abroad dealing with different currencies and complex tax systems.
They discuss the importance of due diligence in selecting a tax preparer, the concept of reasonable cause for penalty mitigation, and the extended statute of limitations for international taxpayers. Virginia provides practical advice for those who find themselves in a situation where their tax returns have been mishandled, emphasizing the need to act promptly and seek professional guidance.
This episode is a must-listen for anyone looking to understand the intricacies of tax preparation and safeguard against potential pitfalls."
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