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Thread: Can your CPA fine you?

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    Featured Member exotica268's Avatar
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    Default Can your CPA fine you?

    I was re-reading through some of the tax posts, and I saw someone wrote that her CPA fined her $2000, or something alone those lines. Is that possible? I know that the gov't can fine you, but your CPA?

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    Member Ook's Avatar
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    Default Re: Can your CPA fine you?

    Short answer: No. You must have misread it, or the poster was confused.

    Maybe the accountant was simply explaining that a state or federal revenue agency levies fines for something like late filing.
    Last edited by Ook; 06-10-2008 at 02:23 AM.

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    God/dess TheTempest's Avatar
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    Default Re: Can your CPA fine you?

    Accountants don't have the authority to fine you. However, if they catch you doing something wrong I'm sure they'll turn you in to the IRS in a heartbeat. They won't risk their job and life outside federal prison for you. LOL

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    Banned Melonie's Avatar
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    Default Re: Can your CPA fine you?

    the fine probably originated with an IRS violation of some sort ... perhaps underpayment of estimated taxes or disallowance of business expense deductions. In all probability, your accountant is probably only serving as the messenger.

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