Updated July 2, 2015
Having a Small Business Tax Preparation Company Chicago Illinois can be challenging. We signed a new client yesterday that has such a sadly familiar story that I wanted to share it with all of my readers. “Jane”, not her real name, has been a business owner for the past five years. She has had one bad experience after another with tax practitioners masquerading as small business tax preparation company chicago illinois.
She began with the gentleman that was doing her personal income tax return at the time she started the business. She asked him if he did business returns. His answer was yes. So she sent him all of the materials necessary for him to compile the financial statements and complete the income tax returns. Two years went by and no tax returns were completed or filed. She trusted this guy because he had always handled her work before and didn’t understand why this was now a problem.
Every time she called to inquire, he provided another excuse. Finally she got fed up and called someone else. The next “Practitioner” was even worse than the first.
This one made promises and took her money. He said that he had e-filed the returns, but never did anything. She started getting notices from the taxation agencies by the fourth year. She called and he said that he would look into it. That this was probably just another bureaucratic sanfu that happened at the IRS all the time. “Jane” let it go for a while. Finally she called the IRS herself. After waiting on hold for what seemed like half of a lifetime, the revenue office informed her that no business returns had ever been filed. After reporting this “Practitioner” to the IRS, she got my number from a friend and called in desperation.
I am sorry to say that I have heard stories like this one for the past twenty-five years.
Practitioner Myth #1 – Just because you know how to do a 1040 does not mean that you know anything about doing business accounting.
Small business tax accounting is a specialty in the public accounting world. Our businesses are called accounting “Practices” because most of this knowledge is not attained by going to school. Most of it comes from practical experience and practice.
Practitioner Myth #2 – “You don’t have to worry. I have already filed your income tax return.”
In order for us to e-file an income tax return, we need your written authorization first. Prior to giving your written authorization, we are supposed to show you the return. If your not seeing something, or providing a signature authorizing your accountant to file a return, it may not be getting filed in the first place.
Find someone that you trust. Someone that has the experience necessary to protect you, your family, and your business. Check their references. Make sure that you are dealing with the correct firm. There are more bad practitioners than good. There are probably more scams today than there were twenty years ago. If you make a mistake in choosing the correct firm, you will probably end up paying for it.
If you are looking for a Small Business Tax Preparation Company Chicago Illinois or are having problems with your accounting in general, we would love to help. I love hearing from my readers, and can be contacted at
Additional Accounting Articles and information on my firm can be found at
Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals.
Updated July 2, 2015