three ways to improve tax returns

think “quality control,” not “review.”

by ed mendlowitz
how to review tax returns: the field-tested update

it occurs to me that there is a difference in the quality between the returns someone does for himself or herself and the returns they do for their clients.

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an informal survey by me showed that the percentage of returns with errors of sole practitioners and partners in cpa firms is less than 2 percent, while the percentage of errors by their staff ranges from a low of 25 percent to a high of 95 percent! why the difference? note that preparer errors are measured by the completed returns they submit for review. and sole practitioner and partner errors are measured by whether a notice was sent by a tax agency or an error is discovered when the following year’s return is being prepared.