What Are a Tax Return Preparer's Duties,if Any,upon Discovering an Error

question 26

Short Answer

What are a tax return preparer's duties,if any,upon discovering an error in a tax return that previously was submitted by a client to a taxing authority?

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Definitions:

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), indicating the fraction of income or expenditure paid in taxes.

Payroll Taxes

Taxes imposed on employers and/or employees, and are based on the salary or wages of the employee.

Payroll Tax

Contributions demanded from either employees or employers, frequently calculated based on the salaries that staff are awarded by their employers.

Personal Income Tax

A tax levied on an individual's total personal income, taking into account wages, salaries, and other sources of income.