Payton & Associates, LLC
Commercial Litigation Attorneys
Miami, Florida

Accountants must meet professional standards

The year has just begun in Florida, and people have started getting back into their normal routines after the holidays. This means that people and companies will now start the process of doing their taxes. There is now a new tax law in place, and this means that there are changes that both businesses and individuals need to start following. It is important that tax documents are prepared correctly because it is not good to be in trouble with the IRS.

Many people and businesses will therefore turn to accountants to prepare their documents and guide them through the process of filing taxes. Accountants are hired because they are trained in the current laws, understand what information is needed and how to ensure everything is done correctly. As people are paying these accountants to prepare their documents they are putting their trust in them that they do in fact understand all the laws and will provide them services that meet their professional standards.

However, there are times when accountants fall below these professional standards. In these situations, the accountant may have committed malpractice. If the accountant did, in fact, commit malpractice, the individual or business may suffer economic damages as a result and may be able to bring a claim against the accountant.

The general claims would be based on breach of contract because the accountant did not perform the work. Or, they were negligent because they made mistakes that should not have occurred, if they were performing the work according to the acceptable standards.

Many accountants are starting their busy season right now as people are starting to work on filing their taxes. These accountants need to do their work correctly, otherwise, they could face lawsuits if their mistakes cost people and businesses money or cause them to be in trouble with the IRS. They could bring malpractice cases against the accountant, but proving these cases can be difficult. Experienced attorneys understand both sides of malpractice claims and consulting with one could be beneficial.

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