What is the name of your state? california
My CPA forgot or otherwise did not file a 1099 reporting $33,000 in my 2007 personal income tax. I was notified by the IRS in March 2008 that I owe $8,042 in tax, $1608 in penalty and $777 in interest. He has agreed to pay the penalty but not interest for this error. I was never notified in his tax preparation statement or in any other way that I owed the IRS this money.
Should my CPA also cover the $777 in interest for this oversight?
Thanks for your response.
My CPA forgot or otherwise did not file a 1099 reporting $33,000 in my 2007 personal income tax. I was notified by the IRS in March 2008 that I owe $8,042 in tax, $1608 in penalty and $777 in interest. He has agreed to pay the penalty but not interest for this error. I was never notified in his tax preparation statement or in any other way that I owed the IRS this money.
Should my CPA also cover the $777 in interest for this oversight?
Thanks for your response.