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<p>[QUOTE=&quot;medoraman, post: 1269923, member: 26302&quot;]If the CPA, after you informed him of income, then prepared tax returns not reporting that income, then you are completely right sir. I was talking about treatment of income or expenses for tax purposes, and how interpretation of laws can vary. There is no wiggle room in not reporting income, and you were right to turn the shyster in.</p><p><br /></p><p>Many times people think accountants are shysters for preparing two different returns, but these are simply different ways of interpreting the law. This is not illegal, since it is simply two honest ways of preparing a return, and the taxpayer has to make an informed opinion as to which way he wishes to file. If the IRS disagrees, but there was a legitimate basis for thinking a certain way, all the taxpayer is responsible for would be interest on the money. Penalties only apply if there was no legitimate reason to file the way you did, which not reporting income of course would entail.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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