
- April15 2004
- Volume 11
- Issue 7
Thumbs Down: Tax Test Failure
The result:
If a doctor didn't pass their medicalboard exams, they wouldn't be ableto practice medicine, right? Apparently,tax preparers are held to amuch lower standard. To test theknowledge of the employees at severalIRS Taxpayer Assistance Centers,auditors disguised as taxpayers approachedthese employees for help inpreparing their returns. Most of the returns were improperlyprepared and the mistakes madewould have resulted in $32,000 ofincorrect refunds. According to areport by the inspector general's officeconcerning this covert testing, 83% ofthe tax returns prepared by the evaluatedemployees were incorrect. Also,72% of the taxpayers were not properlyinformed of tax return preparationrequirements before schedulingan appointment to prepare their taxreturns. Although the inspector generalrecommended that a new initiativefor quality control be enacted for the2004 tax season, physician-taxpayersshould be on guard when seekingadvice from one of the 400 taxpayer assistancecenters located throughoutthe United States.
Articles in this issue
almost 18 years ago
Preserve Peace of Mind with a Stable Insurance Planalmost 18 years ago
Bizarre Insurance Policiesalmost 18 years ago
Live Longer and Save on Life Insurancealmost 18 years ago
Pay Attention to Fund Brokerage Costsalmost 18 years ago
Critique Your Favorite Fund Columnistalmost 18 years ago
Discover the Advantages of Small Fundsalmost 18 years ago
Watch Out for the Plummeting US Dollaralmost 18 years ago
Take Note from Bad Big Name Stock Dealsalmost 18 years ago
Model Portfolio Series: Aggressive Growthalmost 18 years ago
Does Today's Good Life Grief Hit Home?


















































































