Adrian Johnson
TLDR:
- Accounting firm contests blame for client’s $2M tax bill
- Firm argues it had no duty to inform client about tax law change
In a recent case, an accounting firm is contesting blame for a client’s $2M tax bill, stating that they had no obligation to inform the client about a major change in tax law related to the U.S. Supreme Court’s 2018 Wayfair decision. The firm maintains its stance that it did not have a duty to disclose this information to the online flower bulb retailer. This case highlights the complexities and responsibilities involved in tax law compliance for both accounting firms and their clients.
Key Elements:
- Accounting firm contests responsibility for client’s tax bill
- Issue stems from Supreme Court’s Wayfair decision
- Firm argues it had no duty to inform client about tax law change
- Case showcases challenges of tax law compliance
The article discusses the ongoing dispute between an accounting firm and a client over a hefty tax bill, which originated from a significant change in tax law following the Wayfair decision. The firm is defending its position that it was not obligated to notify the client about this change, shedding light on the intricacies and challenges inherent in tax law compliance.
